📊 Analysis of currency
$ACT (Short time frames)
The currency shows a state of strong and sudden rise, but with signs of a natural correction after reaching a local peak at 0.0429.
🔍 Technical observations:
RSI Indicator: In the hourly and 4-hour frames, the indicator has reached "overbought" areas (above 70 and 80), and is now starting to bend downwards, indicating a potential continuation of the temporary correction.
MACD Indicator: We notice the beginning of a decrease in the momentum of green bars in the smaller frames, and the crossing of the indicator lines downwards in the 15-minute frame, which supports the idea of profit-taking.
Candlestick patterns: The price is currently testing the moving averages (MA) as near support at levels 0.0367 and 0.0374.
🚀 Trade recommendation (Scalping)
Since the currency is in a strong "upward trend", the best strategy is to buy on the rebound from support (Buy the Dip).
⚡️ Trade type: Up (Long) ⬆️
🎯 First entry area: between 0.0375 and 0.0380 (if the price stabilizes above the current support).
🎯 Second entry area (Enhancement): at 0.0365 (strong support on the hourly frame).
🏁 Targets (Take Profit):
First target: 0.0395
Second target: 0.0410
Third target: 0.0425 (retesting the peak)
🛡 Stop Loss:
Close the hourly candle below level 0.0355. (Breaking this level cancels the immediate bullish outlook)
⚠️ Warning: Meme coins (Meme) are characterized by very high volatility, do not enter more than 3-5% of your capital in a single trade
$ACT #ACT #CryptoAnalysis #BinanceSquare #Scalping