$ACE — BIG RESISTANCE AHEAD
$ACE is looking interesting for a SHORT trade here. Price has made a strong recovery from the lower support, but now it is pushing into a zone where sellers could step back in. The major resistance around 0.378$ is still sitting above, while the current price action is showing signs that buyers may be struggling to continue the recovery. If $ACE gets rejected from the current area and starts forming lower highs, I would expect another move toward the lower support zone.
The first confirmation for the short would be a clear bearish rejection followed by a breakdown of the recent local support. If that happens, the downside could accelerate as late buyers start closing their positions.
On the other hand, a strong breakout and sustained hold above the major resistance would invalidate this bearish setup.
For now, I’m favoring the SHORT side — resistance rejection = downside opportunity, while a clean breakout = stay out.
$ACE is looking interesting for a SHORT trade here. Price has made a strong recovery from the lower support, but now it is pushing into a zone where sellers could step back in. The major resistance around 0.378$ is still sitting above, while the current price action is showing signs that buyers may be struggling to continue the recovery. If $ACE gets rejected from the current area and starts forming lower highs, I would expect another move toward the lower support zone.
The first confirmation for the short would be a clear bearish rejection followed by a breakdown of the recent local support. If that happens, the downside could accelerate as late buyers start closing their positions.
On the other hand, a strong breakout and sustained hold above the major resistance would invalidate this bearish setup.
For now, I’m favoring the SHORT side — resistance rejection = downside opportunity, while a clean breakout = stay out.