In a recent development that has caught the attention of the crypto community, Binance’s significant investment in the USUAL token project is anticipated to propel its price by up to 100%.
A crypto analyst known as CryptoBull_360 on X, gave a technical aspect of USUAL’s price movements, combined with the market sentiment influenced by Binance’s involvement, to provide a comprehensive analysis.
USUAL Price Analysis
As the analyst examined the USUAL price chart, he observed a breakout from a well-defined resistance zone, highlighted in red. This breakout is a bullish signal as it suggests that the price has overcome a significant barrier.
Historically, such resistance levels often convert into support zones once breached, which seems to be the case here, reinforcing the bullish sentiment around USUAL.
The market’s reaction to this breakout, especially with Binance’s recent investment, indicates strong buying interest that could sustain this new support level.
Breakout and Retest
The price action of USUAL has shown a clear breakout above the resistance zone, aligning with a classic breakout scenario. Following this, a retest of the breakout level, indicated by the gray-shaded region, is crucial.
A successful retest where the price holds above this former resistance would confirm the breakout’s validity, providing a green light for investors looking for mid-term gains as suggested by recent social media posts.
Potential Target Zone
The analysis identifies an orange-shaded area as a potential target zone for USUAL’s price. This target is likely based on a combination of historical price movements, Fibonacci retracement levels, or measured moves from the breakout point.
Given Binance’s heavy investment and the market’s positive outlook, this zone could be within reach, potentially representing a 50-100% increase from the current price if the market conditions favor a strong reversal and clear the existing noise.
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Possible Bullish Scenarios
The analyst Should USUAL’s price maintain above the red zone post-retest, we could see a rally toward the orange target zone. The momentum from the breakout, coupled with Binance’s endorsement, suggests a strong upward trend, potentially leading to the forecasted 50-100% increase.
The involvement of Binance in the USUAL project has set the stage for a significant price movement. The technical analysis supports a bullish outlook with a confirmed breakout and potential for substantial gains.
