Trading Analysis for $ACX /USDT (30m)
Current Price: $0.5417 (-3.23%)
Technical Overview:
$ACX /USDT has shown a steady downtrend over the past few hours, indicating a bearish sentiment. However, the chart highlights potential support and resistance levels that traders can focus on for potential rebounds or breakdowns.
Targets:
1. Target 1 (Support): $0.5300
A key support level from previous lows. If the price holds, a rebound toward resistance is possible.
2. Target 2 (Resistance): $0.5550
Immediate resistance level. A breakout here could signal a shift in momentum toward bullish recovery.
3. Target 3 (Breakout Zone): $0.5800
Critical resistance zone. A breakout above this level could confirm a trend reversal and lead to higher price levels.
Action Plan:
Long Positions: Enter near $0.5300 if support holds. Target $0.5550 for partial profit-taking and $0.5800 for a full exit.
Short Positions: Look for rejection at $0.5550 or $0.5800 and target $0.5300.
Risk Management: Place stop-losses below $0.5200 for long trades and above $0.5850 for short trades.