$USUAL Guys check the chart below 1.RSI : 58.7 It means the asset is neither overbought nor oversold ,leaving room for further upward movement 2.look at 7 days and 30 days returns it has 55.67% and 401.79% it's amazing guys 3. The recent dip from last 2 days could signal a potential correction for profit - taking ... What else buy now ...
This is good because it is helping the chart, in fact,#usualdoesn't want to fall, I'm buying.
KaiqueChaos
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Bearish
$USUAL was hijacked by Trading BOTs:
The Bots took control of the asset:
The price does not rise because the Token appreciated, the price rises to liquidate those who are SHORT, and the price falls to liquidate those who are LONG.
See in the image, the price only rose at launch because it was listed in the futures: the sardines opened SHORTs thinking it would fall like $PENGU and were all liquidated quickly. When it reached $1.6, thousands of sardines were in LONGs, they dropped the price again to liquidate everyone. See how quickly the price fell from $1.6 to $0.95
When analyzing this chart on the 4-hour timeframe:
1. General Trend ⢠The asset is in a strong downtrend. After reaching a peak at $1.6521, there was a clear sequence of descending tops and bottoms.
2. Technical Indicators ⢠Moving Averages (EMA): ⢠The exponential moving averages (EMA 7, EMA 25 and EMA 99) are aligned in a decreasing manner, which confirms the selling pressure. ⢠The price is below the EMA 7 and EMA 25, reinforcing the weakness of the asset. ⢠Volume: ⢠The trading volume has decreased in the last few candles, which may indicate a possible slowdown in the selling force, but without confirmation. ⢠RSI (Relative Strength Index): ⢠The short-term RSI is at 26.69, pointing to oversold conditions, which could indicate a potential correction or consolidation soon. ⢠MACD: ⢠The MACD is in negative territory, with a histogram showing increasing selling strength. ⢠Stochastic RSI: ⢠It is close to zero, indicating extreme oversold conditions.
3. Support and Resistance Levels ⢠Support: The next support is at $0.9224, which is a relevant area to watch for a possible slowdown or reversal. ⢠Resistance: The immediate resistance is around $1.19, where it meets the EMA 7.
4. Conclusion
The trend remains bearish in the short to medium term. However, with indicators pointing to oversold conditions, it is possible that the price will show a slight correction or sideways movement before resuming the decline or consolidating a reversal. If you intend to enter the market, it may be prudent to wait for a clear reversal signal or confirmation of a breakout of support/resistance.