TerraUST (USTUSD) Begins Market Activity With a Bearish Bow
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TerraUST Analysis – Price Begins Activity With a Bearish Plunge
TerraUST begins its market activity with a bearish bow. After fluctuating around the $1.000 price level since when the coin was launched in August last year, TerraUST finally takes its first steps. The first activity of the coin is in a downward direction, and the first point of touch is at $0.760. The market buyers also came alive at this point, causing a brief retracement. However, USTUSD continues its plunge to $0.050.
TerraUST Key Levels
Resistance Levels: $0.760, $1.000
Support Levels: $0.050, $0.380
The coin begins its lifecycle on the 12th of August 2021. It started at the $1.000 price level. The market then was silent throughout the year of its inception. However, this was not without a little spike here and there in both upwards and downward directions to show life in the coin. This market trend enters the year 2022 as well, and TerraUST only begins its major market activity in the second quarter of the year.
By the 9th of May, the coin took a huge plunge downward and touches down at $0.760. Bulls also show signs of life by pulling at the market. But the bears were obviously way ahead in momentum and the next drop was to $0.380 and then to $0.050, where the bears seem to be taking a breather. The RSI (Relative Strength Index) line shows this trend by taking a plunge into oversold and then moving sideways.
Market Expectations
The 4-hour chart shows the corresponding reaction of the bulls to the price drop. At each key level, bulls exercise their ability to cause a price pullback, but the overwhelming strength of the sellers overshadows them and the price eventually drops. This continues till the crypto lands on $0.050 and begins a sideways movement. Bulls are expected to win the consolidation, pushing the price back above $0.760.
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