$ACT loses $0.0108 and the bounce is dead. đ¨
Right now itâs sitting at $0.0112 after a nasty -16% 4h flush, but Iâm not calling it broken unless that level gives way. Price is still above the 20d and 50d MA, RSI on the 4h is 56, and that tells me this isnât some clean trend collapse yet.
Volume is the tell.
$8.5M today sounds okay until you see itâs only 0.3x the 20d average. Thin tape. Longs are still paying 0.005% funding, so if this doesnât reclaim fast, they get trapped hard. â ď¸
Hold $0.0108 and I think $ACT can grind back toward $0.0124. Lose it and Iâm looking lower. đ
#ACT
#Trading
Right now itâs sitting at $0.0112 after a nasty -16% 4h flush, but Iâm not calling it broken unless that level gives way. Price is still above the 20d and 50d MA, RSI on the 4h is 56, and that tells me this isnât some clean trend collapse yet.
Volume is the tell.
$8.5M today sounds okay until you see itâs only 0.3x the 20d average. Thin tape. Longs are still paying 0.005% funding, so if this doesnât reclaim fast, they get trapped hard. â ď¸
Hold $0.0108 and I think $ACT can grind back toward $0.0124. Lose it and Iâm looking lower. đ
#ACT
#Trading