Wrong signal

$ACT

/USDT Technical Analysis and Trade Signal🚀🎯

Current Price: $0.7112 (+13.65%)

Key Observations:

1. Bollinger Bands (20, 2):

Upper Band: $0.7818

Middle Band: $0.7515

Lower Band: $0.7211

The price is below the middle band and near the lower band, suggesting possible oversold conditions or consolidation near support.

2. SAR (0.02, 0.2):

SAR level is $0.7494 (above the current price), indicating a bearish trend. A price breakout above this level may confirm a bullish reversal.

3. Volume Analysis:

24h ACT Volume: 629.86M

High trading volume indicates strong market activity, supporting the current upward momentum.

4. 24h High/Low Range:

High: $0.8098

Low: $0.6097

The price is in a recovery phase from the lower range.

Trade Signal

Trend Momentum: Bullish Bias (short-term)

Trigger Level for Entry: A confirmed breakout above $0.7494 (SAR level).

Targets 🎯

Target 1: $0.7818 (Bollinger Upper Band and near-term resistance)

Target 2: $0.8098 (24h High, strong resistance)

Target 3: $0.8500 (psychological resistance and breakout extension level)

Stop-Loss

Place a stop-loss below $0.7000 (key psychological support and near Bollinger Band DN).

Trade Momentum

Entry Signal: Monitor for bullish confirmation on higher timeframes (1H/4H) and ensure the price closes above $0.7494.

Risk/Reward Ratio: Ensure a favorable risk-to-reward ratio by adjusting position size based on stop-loss distance.

Indicators to Watch:

Bollinger Band breakout for volatility confirmation.

MACD crossover and RSI to gauge momentum strength.

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