$ACT Ignite the Comeback! Thrilling 4-Hour Trading Setup

3 days ago

ACTUSDT

ACT Ignite the Comeback! Thrilling 4-Hour Trading Setup

Price Action Description
Historical Trend: The price began around 0.04-0.05 USDT in mid-August, with a gradual decline punctuated by choppy movements. A sharp drop occurred in early September, pushing it toward the current level of 0.0341 USDT.
Recent Movement: A significant red candlestick around September 2 marks a drop from approximately 0.05-0.06 USDT to 0.0341 USDT (current price), suggesting strong selling pressure or a market event. The price has stabilized near this low, with smaller candles hinting at consolidation.
Current Price: Approximately 0.0341 USDT, down about 30-40% from mid-August highs, suggesting potential oversold conditions.
Volatility: High, as evident from the long wicks and large candle bodies during the recent drop, though volume data is not visible.

Key Technical Levels
Entry: Set at 0.0341 USDT, the suggested point to enter a long position, matching the current price of 0.0341 USDT, indicating an immediate buy opportunity.
TP (Take Profit): Targets are 0.0370 USDT for the first profit take, followed by 0.0393 USDT, 0.0409 USDT, and the highest goal at 0.0477 USDT, providing a range of exit points for potential gains.
DCA: Positioned at 0.0322 USDT, a level to add to the trade if the price dips slightly, helping to average down the entry cost.
SL (Stop Loss): Placed at 0.0316 USDT, the cutoff to exit the trade if the price falls, limiting losses and protecting the position.
Fibonacci Context: These levels likely derive from a Fibonacci retracement or extension tool applied to the recent drop from 0.05-0.06 USDT to 0.0341 USDT, suggesting a potential reversal zone for a long setup.
Risk-Reward: Risk from 0.0341 to 0.0316 is 0.0025 USDT, with rewards to 0.0370 (0.0029, RR 1.16:1) and up to 0.0477 (0.0136, RR ~5.44:1), indicating a favorable setup if the bounce occurs.

Indicators Analysis
RSI (Relative Strength Index): Current value is 22.36, below 30, signaling oversold conditions and a potential rebound. The line has trended downward sharply with the recent drop, showing momentum weakening, but no clear bullish divergence yet. The RSI scale (0-100) marks overbought above 70, not relevant here.

Potential Trading Implications and Risks
Bullish Case: The setup suggests a bottom-fishing opportunity post-drop, supported by oversold RSI. A rebound to take-profit levels is plausible if the broader crypto market stabilizes or if positive news emerges for Achain (e.g., network upgrades).
Bearish Case: The recent sharp decline and lack of immediate recovery indicate ongoing selling pressure. Breaking below 0.0316 (SL) could lead to further declines toward 0.03 USDT or lower.
Risks: High volatility due to ACT’s lower market cap, lack of volume data (limiting liquidity insight), and subjective Fib levels. Use risk management (e.g., 1-2% account risk).
Suggestions: Confirm with bullish patterns (e.g., hammer) at 0.0341 or RSI crossing above 30.

2 days ago

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ENTRY 0.0341 TARGET SCALP ✅ +9.70% PROFIT

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