$ACX /USDT: BULLISH OUTLOOK & TRADE SETUP! 🚀
Based on the technical analysis of the provided chart, ACX/USDT appears to be gaining momentum after a significant correction. The price has bounced off a key support level and is showing signs of a potential bullish continuation.
KEY LEVELS 🔑
* Current Price: $0.1557
* Support: The key support level to watch is around $0.1512. This area has proven to be a strong "floor" for the price, where buyers have stepped in to prevent further decline.
* Resistance: The primary resistance level is the recent high at $0.1576. A breakout above this level would signal a continuation of the bullish trend.
TRADE SETUP: LONG 🎯
* Entry: A long entry can be considered on a confirmed breakout and retest of the resistance at $0.1576. Alternatively, a more aggressive entry can be made on a pullback towards the support level of $0.1537, which is a minor support in the current trend.
* TP1 (Target 1): $0.1590
* TP2 (Target 2): $0.1620
* SL (Stop Loss): Place a stop loss below the support level at $0.1512 to manage risk effectively. A safe stop loss would be at $0.1500.
RISK MANAGEMENT 🛡️
Always use proper risk management. It is recommended to risk no more than 1-2% of your trading capital on a single trade. Set your stop loss (SL) before entering the trade, and stick to your plan. This analysis is for educational purposes only and is not financial advice. Do your own research and trade responsibly.
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