Date: Mon, Jan 06, 2025, 04:15 AM GMT
As the cryptocurrency market kicks off a new week, we’re seeing notable upside momentum among altcoins, spurred by Bitcoin’s (BTC) steady climb of over 1% in the past 24 hours as it edges closer to the $100K milestone. Riding this wave, USUAL—the native token of Usual, a secure and decentralized fiat stablecoin issuer—is coming in spotlight with a rebound following its correction phase after a significant listing rally.
Key Breakout Ahead?
Since its listing in November, USUAL has delivered impressive performance, surging over 600% and reaching an all-time high of $1.65 on December 20. Following this milestone, the token entered a correction phase, forming a symmetrical triangle pattern on the 4-hour chart—a classic indicator of potential breakouts.
Currently trading at $1.012, USUAL is approaching the triangle’s upper resistance trendline. A bullish breakout, confirmed by a retest above this resistance, could pave the way for another rally. The immediate resistance level to watch is $1.08, which, if surpassed, would likely confirm a breakout and open the doors for further gains.
Beyond $1.08, the next targets include $1.44 and $1.65, representing a potential 62% rally from the current price.
- MACD (Moving Average Convergence Divergence): The MACD is showing signs of a potential bullish crossover, suggesting a momentum shift toward the bulls.
- RSI (Relative Strength Index): At 57.49, the RSI is in neutral territory but tilting upward, leaving room for additional bullish movement without entering overbought zones.
If USUAL fails to break above the resistance, a pullback to the lower support trendline of the symmetrical triangle is possible. This could bring the price down to $0.98 or lower, depending on overall market sentiment and trading volume.
Conclusion
USUAL’s current price action and technical setup make it a token to keep an eye on. A confirmed breakout above resistance could unlock significant upside potential, while failure to do so may lead to a consolidation or retest of lower support levels.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.
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