$ACX /USDT TECHNICAL ANALYSIS: SHORT-TERM BOUNCE BUT LONG-TERM DOWNTREND STILL DOMINATES
$ACX /USDT pair is currently trading at $0.1859, showing a 3.85% gain in the last 24 hours and appearing among the top DeFi gainers. Despite the recovery from a daily low of $0.1790, the pair remains well below its recent high of $0.2030, indicating resistance pressure around that level.
š¹ Key Technical Highlights:
Short-Term Trend: Mild bullish bounce from oversold levels.
Resistance Zone: Major resistance seen at $0.2000ā$0.2030. A breakout above this could signal trend reversal.
Support Levels: Immediate support at $0.1790, followed by a key level at $0.1700.
Volume Insight: 24h volume stands at 35.79M ACX, totaling around $6.88M USDT, suggesting moderate market activity.
š Performance Summary:
Today: -3.23% (intraday gain hasn't fully recovered previous loss)
7 Days: -5.35%
30 Days: -28.80%
90 Days: -18.96%
180 Days: -76.75%
š§ Market Outlook:
Although the pair is showing short-term strength, the overall trend remains bearish across all higher timeframes. A strong and sustained breakout above $0.2030 is needed to reverse sentiment. Until then, any rally may be limited to relief bounces, especially if it fails to hold above $0.1850.
Traders should remain cautious, waiting for trend confirmation before aggressive positioning.
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