Trading Signal:$ACT /USDT

Overview:

ACT/USDT has demonstrated significant upward momentum in the last trading session, with a notable price surge of 41.01% in the past 24 hours. The price has risen from a low of $0.4170 to a high of $0.6488, indicating strong buying pressure. The current price is $0.6210, showing potential for continued volatility.

Key Levels:

Resistance Levels (Indicators in White):

Primary Resistance: $0.6488 (24-hour high)

Secondary Resistance: $0.6600 (psychological level)

Support Levels (Indicators in Green):

Primary Support: $0.5754 (recent breakout level)

Secondary Support: $0.4904 (previous consolidation zone)

Indicators:

RSI (6): 98.48 (indicating overbought conditions; caution for potential pullback)

Trend: Strong bullish momentum with potential for a short-term retracement.

Trade Signals

1. Long Trade Setup:

Entry Price: $0.6150

Take-Profit Targets:

1. $0.6480 (near-term resistance)

2. $0.6800 (psychological barrier)

3. $0.7200 (potential extended rally level)

Stop Loss: $0.5750

Caution: Monitor the RSI and ensure momentum sustains above $0.6150 before entering.

2. Short Trade Setup:

Entry Price: $0.6200

Take-Profit Targets:

1. $0.5750 (primary support)

2. $0.5500 (secondary support zone)

3. $0.4900 (low consolidation level)

Stop Loss: $0.6600

Caution: Ensure confirmation of a bearish reversal at the resistance level before entering.

The coin is showing strong upward momentum but is highly overbought as per RSI. Traders should watch for potential retracements or breakout signals near $0.6488.

Short-term Strategy: Bullish traders can capitalize on pullbacks, while bearish traders may wait for signs of rejection at resistance levels.

Risk Management: Use appropriate stop losses and avoid overleveraging due to increased volatility.

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