Bam Bami

#UsualToken #PENGUOpening
Technical Analysis
Price Momentum:
The chart shows an uptrend with higher highs and higher lows. This indicates a bullish trend in the short term.
The candlesticks in the 15-minute chart are forming solid green bars with minimal wicks, suggesting strong buying pressure.
Volume Analysis:
The 24-hour trading volume of 950M USDT is substantial. High volume on upward price movement confirms buyer interest and reduces the likelihood of a false breakout.
Volume spikes in the last few candles suggest increasing participation, a positive sign for further price appreciation.
Moving Averages:
MA 7 ($1.2224): The price is significantly above the 7-period MA, indicating strong short-term bullish momentum.
MA 25 ($1.0436): The gap between the price and this longer moving average further supports the trend.
MA 99 ($0.8114): This long-term moving average is far below the price, showing that the overall trend has reversed to bullish.
Resistance and Support:
Resistance Levels:
Immediate resistance is at $1.30 (psychological level).
The next significant resistance zone could emerge near $1.50, based on previous Fibonacci projections and psychological levels.
Support Levels:
Closest support is at $1.25, with the next at $1.20.
If these levels hold during pullbacks, they could act as springboards for higher prices.
Fibonacci Retracement:
Using a hypothetical Fibonacci retracement from the recent low (e.g., $0.75) to the current price ($1.29), a projected extension could place the next target at $1.50 and potentially $2.00 if the trend persists.
RSI (Relative Strength Index):
If RSI exceeds 70, the asset could enter overbought territory, signaling a potential pullback.
However, a strong uptrend often keeps RSI elevated for extended periods.
Market Psychology and Catalysts
Hype and FOMO (Fear of Missing Out):
A 42% increase in 24 hours can trigger FOMO among retail traders, which may drive the price further.
News and Announcements:
If there are upcoming announcements related to USUAL, such as partnerships, listings, or utility expansions, they could fuel speculative buying.
Whale Activity:
High volume might also indicate whale accumulation, especially if large orders appear at support levels.
Scenarios for $2
Bullish Case:

The price sustains above $1.30 with strong volume.
Momentum continues, and new buyers enter the market, pushing the price past $1.50.
A parabolic run could emerge if broader market sentiment is bullish, helping USUAL reach $2.
Bearish Case:

Price fails to break resistance at $1.30 or $1.50, leading to consolidation or a correction.
Selling pressure from profit-takers could drag the price back to $1.20 or lower.
Strategy Suggestions
For Breakout Traders:
Wait for a confirmed breakout above $1.30 with strong volume before entering.
Target: $1.50, $1.80, and $2.00
Stop-Loss: $1.25
For Range Traders:
Accumulate near $1.25 (support) if the price retraces.
Take profits near resistance levels ($1.30, $1.50).
Risk Management:
Use stop-loss orders to mitigate downside risk.
Avoid over-leveraging, as sharp pullbacks are common after significant rallies.