$ACT ACT/USDT Daily Chart: Consolidation Phase After Volatility Spike

Market Overview:

• Last Price: $0.5627 (-5.57%)

• 24H High: $0.6431 – Sharp rejection from resistance.

• 24H Low: $0.5522 – Testing support levels amidst reduced momentum.

• Volume: Declining, signaling exhaustion of recent bullish momentum.

Key Indicators:

1. Moving Averages:

• MA(5): $0.5706 – Acting as short-term resistance.

• MA(10): $0.5064 – Potential support zone in case of a breakdown.

2. RSI Levels:

• RSI(6): 55.51 – Mid-range, suggesting equilibrium but leaning bearish.

• RSI(12): 55.91 – Losing bullish strength.

3. MACD:

• Positive histogram narrowing, indicating weakening upward momentum.

4. OBV:

• Volume outflow signals a decline in buying interest.

Support & Resistance Levels:

• Immediate Resistance: $0.5800 – Breaking above this could restore bullish sentiment.

• Key Support 1: $0.5400 – A breach may trigger further downside.

• Key Support 2: $0.5000 – Major psychological level.

Trading Strategy:

• For Bears:

• Entry: Short near $0.5700–$0.5800.

• Target 1: $0.5400.

• Target 2: $0.5000.

• Stop-Loss: $0.6000.

• For Bulls:

• Entry: Upon a confirmed breakout above $0.5800.

• Target: $0.6200.

• Stop-Loss: $0.5400.

Summary:

ACT/USDT is entering a consolidation phase after a volatile move, with resistance at $0.5800 and support at $0.5400. Bearish sentiment dominates as indicators show weakening momentum, but a breakout above resistance could attract fresh buying interest.