The Usual price surged 23% in the last 24 hours to trade at $1.29 as of 3.40 a.m. EST on trading volume that skyrocketed 85% to $989.57 million.
The project recently held a Series A funding round which was led by Binance Laby Fund and Kraken Ventures. The round managed to raise a total of $10 million, aiding the project’s goal of building the foundation for the future “stablecoin renaissance.”
In response, its price surged from $1.0452 to a resistance at $1.40, which then caused a slight price rejection to $1.29, as mentioned. On a weekly chart, however, the project saw an even larger price surge that initially took it to an all-time high of $1.64, which happened only four days ago, on December 20.
Since then, the price dropped to $1 before the news of Binance’s investment and the conclusion of Series A made yesterday, December 23, propelled it back up toward $1.50. But, as mentioned, the price did not manage to return to this larger resistance, instead being rejected by the barrier at $1.40.
Usual Price Prediction
The Usual price has seen some volatility lately, as its new surge did not come uninterrupted. Many smaller resistances stood in its way, but as the project’s price progressed, many of these barriers fell.
The project’s Bollinger bands show a significant widening as the price grew, but they tightened somewhat after the resistance at $1.40 was reached about nine hours ago. However, as of the time of writing, the bands are once again widening, which is typically a positive sign.
The price itself spent the last 24 hours fluctuating between the upper band and the middle point between the bands, and it only recently dropped to the lower band, as the resistance at $1.40 rejected it to $1.29. However, the project is already showing signs of recovery, with the price now returning to the middle line between the bands, and will potentially continue its growth toward the upper band.
The project’s Relative Strength Index (RSI) value has been mirroring the price’s performance, going up and down between the overbought zone at 70 and the neutral area at 50 in the last 24 hours.
But, as the price reached $1.40, the traders seemingly oversold the token, and that pushed its RSI to the oversold zone, or rather, the RSI stopped its decline just short of its threshold. At its lowest, it reached the value of 33.79, at which point the traders moved back in, buying the token and pushing the RSI back to the neutral value of 50.
The price itself started a recovery from $1.29 toward $1.35, although it is experiencing some difficulties in reaching this level. This suggests that the traders have taken profit after the price surge, but they also have high hopes for the project, which is why many rushed in to buy the dip.
