I’ve been watching this thing bleed for weeks and it looked like it was heading to zero, but the daily chart is starting to show some actual life. We just had a nice bounce off that $0.011 bottom and it’s currently sitting at $0.01605. The volume is picking up a bit which is a good sign, but don't get too excited yet. We are approaching a minor resistance zone around $0.018. If it can clear that and flip it to support, we might actually see a decent recovery trend start. The order book is leaning slightly bullish at 60% buy pressure right now, so there’s some interest coming back in. I’m just waiting to see if this candle can close strong or if it’s just another "dead cat" move before more downside. Keeping a tight stop loss near the recent low just in case this is a fakeout.
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Is $USUAL finally waking up from the dead?
I’ve been watching this thing bleed for weeks and it looked like it was heading to zero, but the daily chart is starting to show some actual life. We just had a nice bounce off that $0.011 bottom and it’s currently sitting at $0.01605.
The volume is picking up a bit which is a good sign, but don't get too excited yet. We are approaching a minor resistance zone around $0.018. If it can clear that and flip it to support, we might actually see a decent recovery trend start.
The order book is leaning slightly bullish at 60% buy pressure right now, so there’s some interest coming back in. I’m just waiting to see if this candle can close strong or if it’s just another "dead cat" move before more downside.
Keeping a tight stop loss near the recent low just in case this is a fakeout.
#CryptoMarketBouncesBack