#币安LaunchpoolVANA
$USUAL New chart display, current price 0.6220 USDT, down 11.97%. Here are a few key points to note:
Technical Analysis:
Current Price Situation:
• The price has broken through the important resistance level of 0.73-0.74 recorded in the last 24 hours, indicating strong selling pressure at these price levels.
RSI Indicator:
• On the daily chart, the RSI (12) indicator is at 64.85, showing that the market is approaching overbought territory. This implies that there may be a continued pullback before attempting to rise again.
Trading Volume:
• The trading volume is relatively high, indicating active participation from both buyers and sellers. However, the high volume decline shows that current selling power is strong.
Market Trend:
• The price is still trading above the moving average, indicating an overall bullish trend, but caution is needed as the current pullback may continue.
What might happen next?
• Pre-market closing: If buyers step in to push the price up, a rebound may occur close to previous highs (0.73 or above).
• After listing (December 18):
If demand from Binance traders increases, the price may break through the current resistance. If selling pressure continues, it may drop further to closer support levels, such as 0.55 or below.
Practical Advice:
If you plan to hold:
• Wait for the volatility brought by the listing to end.
• Have an exit plan when the price drops to key levels (like 0.50).
If considering buying on dips to lower costs:
• Buying more at strong support levels (0.55-0.50) may reduce the average purchase cost, but be mindful of risks.
Pay attention to the listing situation:
• There will usually be significant volatility after listing. If there is a sudden surge, consider exiting or stopping losses.
Final Reminder:
Watch for resistance at 0.73-0.74 and current support at 0.60-0.55.
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