technical analysis and trade signals for $ACX /USDT:
Current Price: $0.8730
24h High: $0.9800
24h Low: $0.6750
24h Price Change: +21.81%
Momentum Indicators:
RSI (Relative Strength Index) is showing that the price might be approaching an overbought region. Currently, if RSI is above 70, the price may face resistance at higher levels.
MACD (Moving Average Convergence Divergence) is bullish, indicating upward momentum. However, the MACD histogram may show signs of slowing down if price moves into overbought territory.
Trend Analysis:
Short-term Trend: Bullish, considering the upward movement over the past 24 hours.
Medium-term Trend: Neutral to slightly bullish, as the price remains above key support but faces resistance at $0.9800.
Trade Signals:
Target Levels:
1. Target 1: $0.9500 – First resistance point. If ACX breaks the $0.8800-$0.9000 range, the next level of resistance will be near $0.9500.
2. Target 2: $0.9800 – Strong resistance from the 24h high. A breakout above this level could indicate continued bullish momentum.
3. Target 3: $1.05 – If the price breaks $0.9800, expect a further upward push to the next psychological resistance level around $1.05.
Trade Setup:
Buy Signal: Consider entering long positions if the price breaks above $0.9000 and holds there, targeting the first resistance at $0.9500.
Sell Signal: Watch for any rejection or price failure at $0.9800 and prepare to exit or short if the price closes below $0.8750.
Stop Loss:
A stop loss below the $0.6750 level is crucial for protection in case of a sharp reversal. Placing a stop near $0.7000 can help manage risk in the short term.
Trade Momentum:
Bullish Momentum: As long as the price holds above $0.8750, expect the bullish momentum to continue. Watch the MACD for any signs of divergence to confirm a shift in momentum.
Bearish Momentum: If the price drops below $0.6750, this would be a clear bearish sign, and a move toward $0.6500 would be possible.