ACT TOKEN - Price can fall to support area and then bounce up
Hi guys, this is my overview for ACTBUSD, feel free to check it and write your feedback in commentsđź‘Š
The price was trading within a descending channel for a considerable period.
The asset consistently found support at the lower boundary of this formation, within the 0.0590 - 0.0570 price zone.
Recently, a strong upward impulse allowed the price to break out from the upper boundary of the channel.
Following the breakout, the price executed a corrective move back to the broken resistance line, successfully retesting the 0.0730 - 0.0750 area.
This zone is now acting as a new support level, and the price has begun to move upwards from it, showing renewed buyer strength.
I expect that the asset will continue its growth from this support. My first target is set at the 0.0860 level, with the second target at 0.0970 points.
If this post is useful to you, you can support me with like/boost and advice in comments❤️
The price was trading within a descending channel for a considerable period.
The asset consistently found support at the lower boundary of this formation, within the 0.0590 - 0.0570 price zone.
Recently, a strong upward impulse allowed the price to break out from the upper boundary of the channel.
Following the breakout, the price executed a corrective move back to the broken resistance line, successfully retesting the 0.0730 - 0.0750 area.
This zone is now acting as a new support level, and the price has begun to move upwards from it, showing renewed buyer strength.
I expect that the asset will continue its growth from this support. My first target is set at the 0.0860 level, with the second target at 0.0970 points.
If this post is useful to you, you can support me with like/boost and advice in comments❤️
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
🔶 Free telegram channel👉 bit.ly/4fKXOY0
🔥 Join our paid VIP community with Forex and Crypto signals in order to improve your trading skills, my contact 👉 bit.ly/4ibtiIs
đź’Ž ThinkMarkets Ambassador Join & explore bit.ly/4j6sALJ
🔥 Join our paid VIP community with Forex and Crypto signals in order to improve your trading skills, my contact 👉 bit.ly/4ibtiIs
đź’Ž ThinkMarkets Ambassador Join & explore bit.ly/4j6sALJ
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.