Technical analysis of USUAL/USDT using two different timeframes.
1-hour timeframe:
1. Current price: 1.3713
2. General trend:
The trend is upward in the timeframe used, supported by the formation of higher highs and higher lows.
The highest level reached is 1.6521.
3. Technical indicators:
Bollinger Bands:
Upper limit: 1.5721
Lower limit: 1.1646
Average: 1.3684
The price is near the upper limit, indicating that it may face nearby resistance.
RSI (9): At level 52.9812, indicating a neutral zone (no strong overbought or oversold).
Trading volume: 7,219,480.5, a reasonable volume that supports the continuity of the movement.
MACD indicator (MA):
Moving average (5): 46,941,433.4
Moving average (10): 47,111,035.2
The indicators point to bullish momentum with a possible minor correction in the short term.
15-minute timeframe:
1. Current price: 1.3791
2. General trend:
Shows a clearly defined ascending channel marked by ascending support and resistance lines.
Currently, the price is approaching the upper limit of the channel at 1.3791.
3. Technical indicators:
The price rebounded strongly from the support level of 1100 and continued to rise within the channel.
The last candles indicate buying pressure on the rebound from the lower edge of the channel.
Trading volumes are gradually increasing, promoting continuous bullish momentum.
Comparative analysis:
In the wider timeframe (1 hour), the price is trading near the upper limit of the Bollinger Bands indicator, indicating a possible correction or temporary stabilization.
In the shorter timeframe (15 minutes), the price is trading within a clear ascending channel with a continuous test of the upper resistance line.
The RSI in both charts does not show overbought conditions, meaning that the increase may continue while monitoring support and resistance levels.
Possible direction:
1. Bullish trend:
If the price manages to break the upper limit of the ascending channel on the 15-minute timeframe at the level of 1.3800-1.3850 with strong momentum and high trading volumes, it is expected to short-term target the levels of 1.4500 and then 1.5000.
2. Bearish trend:
If the price fails to maintain momentum, it may retest the support level at 1.3000 or the lower edge of the channel at 1.2500. If this happens, it will be an important position to buy.
Conclusion:
According to the indicators, the general trend is bullish with a possibility of slight correction.
It is recommended to watch the levels of 1.3800 as an important resistance level. If a breakout occurs, the momentum will be positive towards higher targets.
