$ACX / USDT – Attempting a Breakout! 🚀
$ACX is currently trading at $0.2270, showing a modest gain of +1.52%. The 4-hour chart indicates that the price is testing a resistance level around $0.2280 after a period of consolidation.
Potential Scenario:
Observation: $ACX has been trading sideways for a bit and is now making an attempt to break out of this range. Successful breakout could lead to further upward movement.
Possible Trade Considerations (Watch for Confirmation):
Entry: Consider potential entries on a confirmed break above $0.2280 with increasing volume. Alternatively, look for support to hold around $0.2250 for a potential bounce play if the breakout fails initially.
Target 1 (if breakout): $0.2300
Target 2 (if breakout): $0.2320
Final Target (if breakout): $0.2350+ (testing previous highs)
Stop Loss (if breakout entry): Place a stop-loss below the breakout level, perhaps around $0.2260.
Stop Loss (if bounce entry): Place a stop-loss below the $0.2250 support, perhaps around $0.2230.
Key Observation: The $0.2280 level is crucial. Monitor for strong buying volume on any attempt to break through it to confirm the breakout.
Remember to conduct your own thorough analysis before making any trading decisions. It's Sunday evening here in Multan, hope you're having a good weekend!
