ACT Big Drop, Is the Rebound Opportunity or the Abyss Opening?
ACT dropped by 10.85% today, closing at $0.3607, with significant intraday volatility and a trading volume exceeding $121 million. The 24-hour high was $0.4130 and the low was $0.3521, showing high market activity. However, this drop has raised market concerns about its future trend.
Technical Analysis
• Moving Averages: The short-term MA(7) and MA(25) formed a golden cross, indicating signs of price rebound, but the long-term trend has not yet regained strength.
• RSI: RSI(6) is approaching the overbought range, reflecting a market sentiment leaning towards optimism, but caution is needed to avoid overextending.
• MACD: The DIF line is above the zero axis, and the green bars are significantly shortened, enhancing the rebound momentum.
Key Level Analysis
• Support Levels: $0.3400, $0.3200
• Resistance Levels: $0.3900, $0.4300
Short-term Trading Suggestions
1. Aggressive Strategy: Test with a light position at $0.3600, setting a stop-loss at $0.3400. Target at $0.3900, and if broken, look at $0.4300.
2. Conservative Strategy: Wait for a pullback to $0.3400 to confirm support before entering, with take-profit levels set at $0.3900 and $0.4100.
ACT's community activity has recently increased, and on-chain data shows signs of capital inflow. Although the drop is concerning, the project itself has significant short-term rebound potential. The key is to watch whether it can hold the $0.3400 support.
Do you think ACT will become the next dark horse, or will it be mired in a bear market? Share your thoughts in the comments and let's discuss the future trend together!
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