$ACT /USDT Technical Analysis and Targets
š Current Price: $0.3091 (-8.20%)
š Timeframe: 30m
$ACT /USDT is showing strong bearish momentum, currently trading near its 24-hour low of $0.3037. The price has broken multiple support levels, and traders are eyeing potential zones for reversal or continuation of the downtrend.
Targets Identified:
1. Immediate Support: $0.30
This level serves as a psychological round number and a critical support. A breakdown could lead to further downside toward the $0.28 range.
2. Resistance Level 1: $0.33
A recovery towards this level may indicate temporary relief. It represents the last consolidation area before the recent sell-off.
3. Major Resistance: $0.35
Breaking above $0.35 would suggest a potential trend reversal, as this aligns with the prior swing high and key resistance zone.
Trading Suggestions:
Short-Term: Monitor $0.30 for a possible bounce. Consider short positions if it breaks with stop-losses above $0.31.
Mid-Term: If the price recovers to $0.33, take partial profits and reassess market sentiment.
Long-Term: Watch for a confirmed breakout above $0.35 with volume to enter long positions targeting $0.38.
š” Pro Tip: Watch for high trading volume at key levels to confirm the strength of any breakout or reversal. Utilize trailing stop-losses to lock in gains during high volatility.
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