USTUSD Price Analysis – May 18
TerraUSD may experience a bearish breakout provided the support level at $0.09 does not hold and it may decrease to $0.08 and $0.01 price level. In case the bulls push price to break up $0.13, price may increase to $0.17 and $0.22 levels.
UST/USD Market
Key levels:
Resistance levels: $0.13, $0.17, $0.22
Support levels: $0.09, $0.08, $0.01
USTUSD Long-term Trend: Bearish
On the daily chart, TerraUSD is bearish. The coin embarked on bearish trend from the high of $1.00 resistance level. Strong and massive bearish candles were produced and the price dropped to the low of $0.09 support level on May 13. It bounced up and retested the resistance level of $0.22. Bears exerted more pressure and the price tested the support level of $0.09 second time. The price is currently consolidating at $0.09 level.
The fast Moving Average (9 periods EMA) is below the slow Moving Average (21 periods EMA) and the price is trading between the two EMAs as a sign of ranging movement. TerraUSD may experience a bearish breakout provided the support level at $0.09 does not hold and it may decrease to $0.08 and $0.01 price level. In case the bulls push price to break up $0.13, price may increase to $0.17 and $0.22 levels.
USTUSD medium-term Trend: Bearish
TerraUSD is bearish in the 4-hour chart. At the moment, the coin is consolidating within $0.10 and $0.13 levels. Downtrend was triggered by the bears’ pressure and broke down the $0.22, $0.17 and $0.13 levels. TerraUSD decline and reached the support level of $0.09 on May 16 and pulled back.
At the moment TerraUSD is over and around the two EMAs. The 9 periods EMA and the 21 periods EMA are interlocked to each other as a sign of consolidation. The relative strength index is at 59 levels displaying bullish signal.
