$ACX Let's analyze the acx coin based on the 1-day (1D) and 4-hour (4H) timeframes on the ACX chart.
1-Day Timeframe Analysis (1D)
1. Price Movement
The current price is around $0.8098 after a sharp drop from $1.3175 to $0.6498.
There was a significant rebound towards $0.8098, but there was selling pressure in this area.
2. Support and Resistance
Strong support: $0.6498
Nearest resistance: $0.8612
If the price manages to break through the $0.8612 resistance, the next target is the $0.900 - $0.950 area.
3. RSI (6)
The RSI value is at 34.1, indicating oversold conditions. This is a signal that the price has the potential to rebound if the buyer volume increases.
4. Volume
The selling volume in the downtrend is quite large. However, in the last few candles, there has been a decrease in volume indicating a weakening of selling pressure.
4 Hour Timeframe Analysis (4H)
1. Bollinger Bands
The current price is near the middle Bollinger Bands line around $0.7856. If the price manages to break through the middle line, the potential for an increase towards the upper Bollinger Bands at $0.8362.
2. RSI
RSI at 59.77 shows that momentum is starting to rise but has not yet entered the overbought area.
3. MACD
The MACD histogram is starting to show positive signals with mild upward momentum.
2 Days Ahead Scenario
1. Bullish Scenario (More Dominant):
If the price stays above $0.770 - $0.785, then the potential for an increase towards $0.8612 is very large.
If it breaks through $0.8612, the next target is $0.900 - $0.950.
2. Bearish Scenario:
If the price fails to stay above $0.770, then there will be a correction towards the support of $0.7350.
If the selling pressure increases, the price could retest to $0.6498.
Recommended Open Positions
1. Open Long Position (Buy):
Entry: $0.800 - $0.810
Target Profit (TP1): $0.8612
Target Profit (TP2): $0.900
Stop Loss: $0.770 (below minor support).
2. Open Short Position (If Break Support $0.770):
Entry: Below $0.770
Target Profit (TP): $0.7350
Stop Loss: $0.810
#DYOR🟢.