ACH/USDT is currently trading at $0.0194, showing a gain of +3.24% in the short term. The price has made a strong upward move and is trading just above the VWAP at $0.0187. The 200-period moving average at $0.0186 was a key resistance level but has now turned into a support following the recent breakout.
The RSI is at 71.22, indicating overbought conditions. This suggests a possible consolidation or pullback might occur in the near term. However, the MACD continues to show bullish momentum, with the MACD line (0.00046) above the signal line (0.00042), indicating that the current bullish trend may continue for some time.
The price is now approaching a significant resistance zone around $0.020. A clean break above this resistance could push the price towards the next target range of $0.022 to $0.024. However, if the price fails to break above this level, we could see a short-term correction, with the $0.0180 support level being the key level to watch.
Traders should closely monitor the price action near the $0.020 resistance. A breakout above this could signal further upside potential, while a rejection might lead to profit-taking and temporary consolidation.
Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Always conduct your own research before making any trading decisions.
