🔍 USUAL Chart Interpretation
1️⃣ Descending Channel:
The price has been following a downtrend, making descending highs and lows within the channel.
This usually indicates a consolidation or correction phase before a possible stronger move.
2️⃣ Resistance Test:
The price is currently near the upper line of the channel (resistance).
A break of this line could signal a trend reversal to the upside, especially if there is an increase in volume.
3️⃣ Important Support:
The lower line of the channel ($0.71) has been acting as support.
If this line is broken downwards, the price could continue to follow the descending channel, seeking lower levels.
🎯 What Can Happen?
Upward Breakout:
If the price breaks the channel upwards, especially with increasing volume, this indicates buying strength and could lead to an upward move.
Initial targets could be $0.73, $0.75 or even higher, depending on the momentum.
Bearish Continuation:
If the price fails to break the channel and remains within it, the bearish movement could continue, testing lower levels like $0.70 or $0.68.
Consolidation:
If the price continues to oscillate within the channel, this indicates a phase of indecision, where the market is waiting for a catalyst.
💡 Conclusion
The chart indicates a critical point. Keep an eye on the behavior near the channel resistance ($0.72). A breakout to the upside could signal bullishness, while a rejection could take the price back to lower levels. 🚀
If you are positioned, monitor the volume and set a stop loss to limit risks!
