ACT/USDT Tests Resistance at 0.7880 as Bullish Momentum Wavers
$ACT

Moving Averages

200-period SMA (15-minute Chart): The current price is significantly above the 200 SMA at approximately 0.6468, indicating strong bullish momentum. As long as the price remains above this level, the bullish sentiment is likely to persist.

Relative Strength Index (RSI)

Current RSI: Around 46.93, slightly below the midline, which suggests a neutral to mildly bearish sentiment. This level implies some room for a potential upward move if buying pressure increases.

Moving Average Convergence Divergence (MACD)

MACD Line: -0.0060Signal Line: -0.0134Histogram: Negative (-0.0074), indicating bearish momentum. The MACD line is below the signal line, suggesting short-term bearish pressure. However, the histogram is close to zero, which could indicate a potential reversal if buying interest increases.

Support and Resistance Levels

Immediate Resistance: Around 0.7880, observed as an area where selling pressure previously appeared. A breakout above this level with strong volume could confirm bullish momentum.

Local Support: Approximately 0.7500, identified as a support zone in the chart. A break below this level with significant volume could signal further downside.

Bullish/Bearish Scenarios

Bullish Scenario:

Break Above 0.7880 Resistance: A breakout above this resistance, especially with increasing volume, might confirm a bullish continuation.

Bearish Scenario:

Drop Below 0.7500 Support: A move below this level with strong volume could indicate a bearish reversal.