$ACT
(Bearish in the short term)
Based on the 1-hour chart ACT/USDT, the current market sentiment appears bearish. Here's a breakdown of the key signals:
🔻 Bearish Indicators:
1. Price Trend: The price is in a clear downtrend, with lower highs and lower lows.
2. Moving Averages:
The short-term MA(7) and MA(25) are trending below the longer-term MA(99), confirming downward momentum.
Price is currently trading below all major moving averages.
3. Volume: There's been a significant spike in sell volume, suggesting strong selling pressure recently.
4. 24h Price Action:
Down 13.27%, which is a steep decline for a 24-hour period.
The price hit a 24h low of 0.0516 and has only slightly recovered to 0.0536.
⚠️ Conclusion:
Bearish in the short term. Unless there's a reversal signal (like a bullish candlestick pattern, volume reversal, or moving average crossover), the downtrend may continue.