ACT experienced a harsh sell-off from 0.1937 to a low of 0.0493, losing more than 70% in some candles.
But now, a slight increase from that low along with a rising StochRSI (21.41) indicates a potential shift in sentiment in the short term.
Current price: ranging between $0.057 - $0.056.
Change over 24 hours: +0.17%
24-hour high: $0.0629.
24-hour low: $0.0493.
Volume: 1.37B ACT.
Signs of potential recovery 📊:
1. The price is holding above the $0.0500 area, showing signs of accumulation.
2. The current candle is green for the first time after a long series of red candles.
3. StochRSI is trending upwards, indicating that momentum is trying to return.
4. A slight bullish divergence is forming between the price and the oscillator.
What to watch for next:
Movement above $0.0620 with volume may achieve a small bounce towards $0.0700 and $0.0780.
If the price drops below $0.0493 again, expect renewed decline towards $0.0420 and possibly $0.0380.
It's better to wait for confirmation and not rush into action.
Conclusion:
ACT is trying to rebound after one of the steepest declines in the meme sector. While it’s still early to say there is a trend reversal, the current structure suggests that sellers may be slowing down.
The next four to eight hours are critical to confirm whether this is a dead cat bounce or the beginning of a base.
Note ⚠️:
This is not investment advice. Do your own research and invest responsibly.
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Good luck to everyone 💚💰🙏🏼