🚀$ACT /USDT Trade Analysis🚀

Market Overview

$ACT is trading at $0.6183, with a sharp decline of -17.88% in the past 24 hours. The price has broken below key moving averages, indicating strong bearish sentiment. The support level at $0.6033 is critical, and a bounce or breakdown at this level will determine the next move.

Long Trade Setup

Entry Point: $0.6300 (wait for a confirmed bounce above this level)

Take Profit (TP):

TP1: $0.6650

TP2: $0.7000

Stop Loss (SL): $0.6000 (below recent support)

Signal: If $ACT manages to rebound from the support at $0.6033, it could initiate a short-term recovery towards the moving averages.

Short Trade Setup

Entry Point: $0.6100 (on a breakdown below the support zone)

Take Profit (TP):

TP1: $0.5800

TP2: $0.5500

Stop Loss (SL): $0.6300 (above resistance)

Signal: A breakdown below the support level at $0.6033 would signal continued bearish momentum, targeting lower levels.

Key Levels to Monitor

Resistance: $0.6650, $0.7000

Support: $0.6033, $0.5500

Caution: The chart indicates increased volatility with significant bearish momentum. Use tight stop-loss levels to manage risk. Monitor volume for signs of reversal or continuation, and adjust targets accordingly. Always trade with caution in volatile markets.

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