The $ACT /USDT trading pair is showing signs of a bearish reversal, offering a potential shorting opportunity for traders. After testing resistance near $0.4130 and failing to break through, momentum on the 1-hour timeframe has turned negative.
Trade Setup:
Entry Zone: $0.3675 - $0.3700
Stop Loss (SL): $0.4140 (above recent highs)
Take Profit (TP):
TP1: $0.3400 (first key support)
TP2: $0.3200 (for deeper correction)
Market Analysis:
Strong resistance near $0.4130, coupled with volume spikes, suggests bearish sentiment. A breakdown below $0.3600 could accelerate the downside movement.
Risk Management:
Risk only 2-3% of your capital and calculate position size based on the stop-loss level to minimize risk.
Pro Tip:
Wait for the price to align with your plan before executing the trade. Discipline and patience will help you capitalize on this opportunity.
Stay sharp, and happy trading!
