$ACT Testing Key Support Amid Pullback!

Current Price: $0.6021 (-3.88%)

ACT is experiencing a pullback after reaching a 24-hour high of $0.6309, with traders eyeing key levels for potential reversals.

Technical Overview:

• Resistance Levels:

• $0.6195: Immediate resistance observed from recent price action.

• $0.6309: Critical level to retest for bullish continuation.

• Support Levels:

• $0.5795: Strong support from the recent low; a crucial defense zone.

• $0.5640: Deeper support to watch if the sell-off intensifies.

• Moving Averages:

• MA (7): $0.6075, acting as a dynamic resistance.

• MA (25): $0.6088, aligns closely with short-term consolidation.

• MA (99): $0.6648, reflecting broader downtrend resistance.

Market Sentiment:

• Volume: Increased trading activity hints at a potential inflection point.

• Trend: Consolidation phase with price caught between key support and resistance levels.

Trading Scenarios:

• Bullish Case: A breakout above $0.6195 could lead to a retest of $0.6309, opening up for further upside.

• Bearish Case: Losing $0.5795 support may trigger additional downside, testing the next support at $0.5640.

Pro Tip: Monitor volume and price action near the MA levels for confirmation of the next directional move.

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