📈 $ACT Technical Update & Trading Strategy

🔍 Current Price: $0.57732

💡 Key Levels to Watch:

Support: Around $0.577 where ACT is currently struggling to find its footing after losing the 0.58 region.

Resistance: The $0.65 area, marked by the 99MA (purple line on the chart), is crucial. A break above could signal a potential bullish reversal.

📊 Technical Insights:

Moving Average: The 99MA is acting as a strong resistance. A close above this level could indicate a shift towards bullish momentum.

⚠️ Risk Management:

Given the past volatility and potential for market manipulation, keep your positions small. The trade details from the chart show a recent loss with a stop-loss almost hit, highlighting the need for cautious trading.

🎯 Trading Strategy:

Bullish Scenario: Watch for a break and close above 0.65. If this happens, consider entering a long position with a target towards $0.70, but always set a stop-loss below your entry for risk management.

Bearish Scenario: If $ACT fails to break the resistance and starts descending again, look for further support levels below $0.577 or consider short positions with tight stops.

🔄 Community Sentiment: There's cautious optimism for #ACT to test higher levels again, but the mention of manipulation suggests all traders should remain vigilant and adapt strategies accordingly.

💬 Final Note: $ACT's current position at the edge of support and resistance zones makes it a high-watch asset. Whether you're considering going long or short, ensure your stops are in place, and your positions are sized appropriately for the risk.

Stay sharp, traders! 🚀