Altcoin Analysis: #ACT🔥🔥🔥
Recently very popular in the Twitter circle, many KOLs are recommending on the CX platform. As a coin with a large volatility, ACT fits my swing trading style very well, let’s analyze its trend.
At the 30-minute level (30F), ACT has previously experienced a period of consolidation followed by a downward trend, forming a central range of a running pattern, and there was no divergence. With price fluctuations, it has formed nine non-similar level central ranges, and it is still oscillating within this central range.
At the 5-minute level (5F), ACT is also declining without divergence, and the higher-level trend has similarly shown no divergence. Currently, there are no bullish initiation signals, nor clear buying opportunities.
Trading Advice: Currently, it is recommended to stand by. For such hot new coins, it is best to wait for a complete price correction, or wait for the market to show bullish signals before making a decision. The most taboo is to blindly chase prices at the edge, as this can easily lead to being caught in a market reversal with a “flying knife,” resulting in heavy losses.
5 years of experience in the crypto space, feel free to consult on any issues, those who want to progress together can check my professional introduction.
