$ACT Next target analysis:
Based on the provided chart and the technical indicators observed, let's analyze the next potential target levels for ACT/USDT.
Technical Analysis Summary:
1. Current Price: 0.7194 USDT
2. Key Moving Averages:
EMA(7): 0.7288 USDT (short-term resistance)
EMA(25): 0.7365 USDT (mid-term resistance)
EMA(99): 0.6679 USDT (long-term support)
3. Support and Resistance Zones:
Support:
0.6902 USDT (recent low)
0.6550 USDT (stronger support near previous price consolidation)
Resistance:
0.7288 USDT (short-term EMA resistance)
0.7365 USDT (mid-term EMA resistance)
0.7991 USDT (24-hour high and major resistance)
Price Action Analysis:
Bullish Momentum: If the price manages to break above the EMA(7) at 0.7288 USDT and sustains above it, the next target would be the EMA(25) at 0.7365 USDT. A further bullish breakout above 0.7365 USDT could see the price aiming for the 0.7991 USDT resistance. This is a key level as it's the recent high, and breaking above it could signal a continuation of the upward trend.
Bearish Momentum: On the downside, failure to break above the EMA(7) and EMA(25) could result in a pullback. The nearest support is around 0.6902 USDT. A drop below this support level could push the price towards the EMA(99) at 0.6679 USDT and potentially further down to 0.6550 USDT.
Next Target Levels:
1. Immediate Upside Target:
0.7365 USDT (EMA 25)
0.7991 USDT (Key resistance level)
2. Extended Bullish Target (if 0.7991 is breached):
0.8500 USDT (psychological resistance and round number level)
3. Immediate Downside Target:
0.6902 USDT (recent low support)
0.6679 USDT (EMA 99 long-term support)
0.6550 USDT (strong support zone)
Trading Strategy Recommendations:
For Long Positions:
Consider entering above 0.7288 USDT (EMA 7) with targets at 0.7365 USDT and 0.7991 USDT.
Place stop-loss orders below 0.6902 USDT to minimize risk.
For Short Positions:
If the price fails to break above the 0.7288 USDT, short entries can be considered with targets at 0.6902 USDT and 0.6679 USDT.
