Based on the chart and market data provided for $ACT /USDT:
Analysis
1. Current Price: $0.2868 (+9.63%)
2. Key Observations:
The price recently touched $0.2968, indicating potential resistance at that level.
The 7 EMA ($0.2882) and 25 EMA ($0.2859) are close to the current price, signaling consolidation.
The overall trend shows recent bullish momentum but signs of slowing down (retrace after hitting $0.2968).
---
Prediction & Strategy
Short-Term (Next 24 Hours):
Support: If the price holds above $0.285, there is potential for a bounce back to test $0.2968 resistance.
Resistance: Breaking above $0.2968 could target $0.305-$0.31 levels.
Long-Term Outlook:
If the price fails to hold $0.285, it may test lower support levels at $0.278 or even $0.273.
---
Trading Recommendations
1. For Long Positions:
Entry: Between $0.278 and $0.285.
Targets: $0.296, $0.305.
Stop Loss: Below $0.273.
2. For Short Positions:
Entry: Near resistance $0.296-$0.30 if the price fails to break out.
Targets: $0.285, $0.278.
Stop Loss: Above $0.305.
---
Final Note
Watch closely for volume confirmation. A break above $0.2968 with strong volume can lead to further upside, but failure to hold $0.285 might trigger a retracement.
#ACTUSDT #CryptoTrading #ACTUSDT #CryptoTrading #TechnicalAnalysis
