#ACM /USDT 1-day chart update :
ACM/USDT Pumped Today, Parallel Channel Forming :
The $ACM /USDT pair is up by over 20% today, making it one of the top performers on Binance. The market is green overall, and a #parallel channel is forming on the chart. If the candle crosses this channel and closes above it, the market could continue to trend upwards. Otherwise, the market could come down a bit.
The parallel channel is a bullish pattern that occurs when the price of a security consolidates between two parallel trendlines. The pattern is considered to be complete when the price breaks above or below the upper or lower trendline.
In the case of ACM/USDT, the price is currently consolidating between the two parallel trendlines. If the price breaks above the upper trendline, it would be a bullish signal and could lead to further gains. However, if the price breaks below the lower trendline, it would be a bearish signal and could lead to losses.
Traders should be aware of the parallel channel pattern and should adjust their trading strategies accordingly. Those who are bullish on ACM/USDT could consider buying the pair at the current price or waiting for a breakout above the upper trendline before entering a long position. Those who are bearish on the pair could consider selling the pair at the current price or waiting for a breakout below the lower trendline before entering a short position.
