Overall Trend:
ACT/USDT is trading in a consolidation phase within a downward channel on the 4-hour chart. The price has failed to break above key resistance and remains under selling pressure.
Support and Resistance Levels:
Resistance: $0.4500 - $0.4700 (upper boundary of the consolidation range).
Support: $0.4200 - $0.4300 (current base and lower boundary of the channel).
Technical Indicators:
RSI (14): At 47.33, the RSI signals neutrality, showing neither overbought nor oversold conditions.
MACD (12,26): The MACD line is below the signal line, with a slightly negative histogram, suggesting weak bearish momentum.
Volume: Declining volume indicates reduced trading activity, reflecting market indecision.
Cluster and Zone Analysis:
Support Zone: The $0.4200 level is acting as a significant support, protecting the price from further declines.
Resistance Zone: The $0.4500 - $0.4700 region is a key resistance zone, aligning with the upper trendline of the descending channel.
ACT/USDT is consolidating within a descending channel, with critical support at $0.4200 and resistance at $0.4700. Traders should watch for a breakout or breakdown from the channel for the next significant move. A breakout above resistance would indicate bullish strength, while a breakdown below support would confirm continued bearish momentum.