ACH/USDT Technical Analysis: Is Another 100% Rally Possible?

8 เม.ย. 2023

ACH/USDT Technical Analysis: Is Another 100% Rally Possible?


The cryptocurrency market is known for its volatility, and ACH/USDT is no exception. Currently trading at $0.03976, ACH has seen a massive 650% increase in 2023 alone. However, with the price near its all-time high, the trade can be risky. In this article, we will conduct a technical analysis of ACH/USDT and explore whether another 100% upward rally is possible.

Takeaways:

ACH/USDT is currently trading at $0.03976, up 650% in 2023.
If the triangle breaks upward, there is a possibility of another 100% upward rally in price.
The resistance level is at $0.042, and for bullish mode, a daily candle close above $0.042 is required.
In bearish sentiment, if the daily time frame candle closes below $0.035, we may see a down move.
ACH has already bounced back from the 0.618 Fib retracement level, indicating the possibility of a new all-time high after a breakout.
Risk management and stop loss are crucial in cryptocurrency trading.
ACH/USDT Technical Analysis:
As per the chart, ACH/USDT is trading near its all-time high, making the trade risky. However, if the triangle breaks upward, we may see another 100% rally in price. The resistance level is at $0.042, and for bullish mode, a daily candle close above $0.042 is required. On the other hand, if the daily time frame candle closes below $0.035, we may see a down move.

Furthermore, ACH has already bounced back from the 0.618 Fib retracement level, indicating the possibility of a new all-time high after a breakout. It is crucial to remember that risk management and stop loss are vital in cryptocurrency trading.

Conclusion:
In conclusion, ACH/USDT is currently trading at $0.03976, and a technical analysis of the chart suggests that if the triangle breaks upward, we may see another 100% rally in price. However, it is crucial to remember that cryptocurrency trading is volatile and risky, and risk management and stop loss are crucial for successful trading.