đ $ACT /USDT: BEARISH DESCENT OR BULLISH REVERSAL? đ
The $ACT /USDT pair is currently trading at $0.5346, down by 10.77% over the past 24 hours. With a high of $0.6085 and a low of $0.5173, the price is moving within a descending channel, indicating a bearish trend. However, there's potential for a bullish reversal if key resistance levels are breached. The trading volume is substantial, highlighting the market's active engagement.
đ Trade Scenarios:
- Bullish Scenario:
- Entry: If the price breaks above the upper boundary of the descending channel and the resistance level at $0.5400.
- Take Profit (TP): $0.6000
- Stop Loss (SL): $0.5200
- Bearish Scenario:
- Entry: If the price fails to break above the resistance level at $0.5400 and continues to move within the descending channel.
- Take Profit (TP): $0.4800
- Stop Loss (SL): $0.5500
đ Market Outlook: The market is at a critical juncture, with the potential for both a bearish continuation and a bullish reversal. Traders should closely monitor the price action around the key levels of $0.5400 and $0.5200 to make informed trading decisions.