$ACT ACT/USDT. Below is the analysis for the next 12 hours, along with suggested buy entry and stop-loss (SL) levels:
Technical Analysis
1. Moving Average (MA):
The current price is near the MA 50, indicating a potential reversal or trend confirmation.
If the price breaks above the MA 50, it signals a bullish trend.
2. MACD:
The MACD histogram indicates positive momentum, approaching a bullish crossover.
If the MACD line (blue) crosses above the signal line (orange), it confirms a buy signal.
3. RSI (Relative Strength Index):
RSI is around 50, showing neutral conditions.
If RSI rises above 60, it will confirm bullish strength.
4. Stochastic RSI:
The Stochastic RSI is in the oversold area and starting to rise, signaling a buying opportunity.
5. Volume and OBV (On-Balance Volume):
Trading volume appears stable, but a volume spike could act as an additional trend confirmation.
An upward trend in OBV suggests accumulation.
6. Long/Short Ratio:
The profit ratio and position data show slight bullish dominance. However, divergence should be monitored.
Trading Recommendations
Buy Entry:
Enter at around 0.5500 if there is a clear bullish candle with increasing volume or when the MACD confirms a bullish crossover.
Take Profit (TP):
TP1: 0.5700 (nearest resistance).
TP2: 0.5900 (next resistance if momentum continues).
Stop-Loss (SL):
Set the SL at 0.5320, slightly below the last support at 0.5162, to limit losses if the price drops.
Important Notes:
1. Wait for confirmation from indicators like MACD and RSI before entering a position.
2. Monitor news or market sentiment that could affect this pair.
3. Use strict risk management, risking no more than 2-3% of total capital per trade.