Based on the current price of USUAL/USDT at $0.572, the support and resistance levels and short-term analysis can be determined as follows:
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Short-term support and pressure levels:
1. Support level:
The closest current support is at $0.550, which is a level of stability if the price declines under selling influence.
If this level is broken, the price may head towards the next support at $0.500.
2. Resistance level:
The closest resistance is at $0.600, which is the first barrier that may determine the continuation of the uptrend.
Additional resistance is at $0.650, which is a bullish sign if broken steadily.
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Optimism or pessimism?
optimism:
Reasons for optimism:
If the price manages to break above the $0.600 resistance steadily, this could reflect strong buying momentum.
An increase in trading volume can indicate support from the market for further upside.
The cryptocurrency market in general is showing positive signs (assuming the broader market stabilizes).
Pessimism:
Reasons for pessimism:
If the price drops below $0.550, this may indicate a decline in confidence and liquidity outflow.
Unstable market conditions or negative news related to the project may put pressure on the price.
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Technical analysis:
Relative Strength Index (RSI):
If the RSI is within the range of 50-70, the market is in a neutral/positive state. Below 50 indicates selling pressure.
Moving average:
If the price is below the 50-day moving average, it may indicate a continuation of the decline, while above it indicates a potential rise.
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Conclusion:
If you are an investor, you should watch the support levels at $0.550 and resistance at $0.600. A successful break above the resistance may boost optimism, while a break below the support may increase pessimism.
Follow the news and technical developments of the currency on a daily basis to update your investment strategy.