$ACE

#ACE/USDT Consolidates with Bullish Bias: Key Levels to Watch for Breakout or Reversal

The price has been oscillating within a relatively narrow range between $2.170 and $2.400, with recent action showing a bullish attempt to break out of this range. The consolidation near the moving averages suggests that the market is gathering momentum for a potential breakout, but it is still facing resistance at higher levels.

Relative Strength Index (RSI): The RSI is currently at 54.45, which suggests a moderately bullish sentiment. The RSI is not in the overbought or oversold zone, implying that there is still room for price movement in either direction.

The MACD indicator is slightly negative, with the MACD line below the signal line, and the histogram showing minor bearish divergence. This could indicate a potential short-term correction, but the overall trend remains positive.

Support: The first support level is around $2.199 to $2.170, a zone that has previously held as a key area where buyers step in to support the price. If the price falls below this level, it could indicate a reversal of the current bullish trend.

Resistance: The immediate resistance is at $2.400, which is the upper boundary of the recent trading range. A break above this level could trigger further upside movement, potentially targeting higher resistance zones around $2.500 and beyond.

Bullish Scenario: If the price successfully breaks and holds above the $2.400 resistance, there could be an acceleration in the bullish trend, with the price potentially moving towards $2.500 and higher levels.

Bearish Scenario: If the price fails to break through $2.400 and drops below the $2.199 to $2.170 support zone, it might signal a reversal, leading to further declines towards $2.100 or lower.

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