$ACT



Technical Overview

  • Time Frame: 15-minute interval.

  • Current Price: 0.5997, trading below the 200-period MA (0.6228). This suggests a short-term bearish trend with the price unable to reclaim its moving average.

  • Chart Pattern: The second chart highlights a descending channel or downtrend since the high around 0.90, following a strong initial rally within an ascending channel.

Key Observations

  1. Trend Analysis:

    • The price has transitioned from an uptrend (ascending channel on the left) into a downtrend, now trading consistently below the 200-MA.

    • Lower highs and lower lows in recent sessions confirm bearish sentiment in the short term.

  2. Support and Resistance:

    • Immediate Support: The horizontal zone around 0.5900 is providing short-term support. A breakdown below this level could lead to further downside pressure.

    • Immediate Resistance: The 200-MA (0.6228) and descending trendline from the highs act as key resistance areas.

  3. Momentum Indicators:

    • RSI (Relative Strength Index): At 48.05, the RSI is neutral, indicating neither overbought nor oversold conditions. However, it's leaning slightly bearish as it hovers below the midpoint (50).

    • MACD Histogram: The MACD shows weak momentum with a potential bearish crossover forming, suggesting that selling pressure could increase.

  4. Volume:

    • Volume has been steadily declining compared to the initial rally, indicating weakening market interest. A breakout or breakdown would need a spike in volume for confirmation.

Scenario Analysis

  1. Bullish Scenario:

    • If the price rebounds from the 0.5900 support and breaks above the 200-MA, it could target the 0.6500 level as the next resistance.

    • Confirmation would require a bullish MACD crossover and RSI moving above 50.

  2. Bearish Scenario:

    • A breakdown below 0.5900 could lead to a drop toward the 0.5500 or lower levels, depending on selling pressure.

    • RSI moving below 40 and a confirmed MACD bearish crossover would validate this move.

Conclusion

ACT/USDT is currently in a corrective phase after a strong rally, with short-term bearish momentum dominating. Traders should watch:

  • The 0.5900 support zone for a potential rebound.

  • Volume and momentum indicators for confirmation of the next move.