Summary
• Price tested resistance at $0.0082 before declining to $0.0075.
• Volume surged during morning ET breakouts but reversed with bearish confirmation.
• RSI and MACD suggest bearish momentum amid a potential oversold bounce.
• Volatility expanded during key moves, with
trading within a widening Bollinger Band.
• Fibonacci retracement levels indicate potential near-term support at $0.0076.
Market Overview
Acala Token/Tether (ACAUSDT) opened at $0.0082 at 12:00 ET − 1 and reached a high of $0.0082 before declining to a low of $0.0075, closing at $0.0075 at 12:00 ET. The 24-hour notional volume was approximately $40.6 million, with a turnover of around 5.3 million ACA.
Structure & Formations
The price formed a bearish breakdown from a consolidation range above $0.008, confirming resistance at $0.0082. A key bearish engulfing pattern emerged around 04:15 ET, followed by a continuation of downward pressure. A potential support level is forming near $0.0076, aligned with the 38.2% Fibonacci retracement of the recent high-low swing.
Moving Averages
On the 5-minute chart, the 20-period and 50-period moving averages indicate a bearish cross, reinforcing the downward bias. Daily chart averages are not yet visible in this 5-minute data but may offer longer-term context as the trend continues.
Momentum and Oscillators
The RSI dipped below 30, suggesting oversold conditions and a potential bounce near $0.0075–0.0076. However, the MACD showed bearish divergence, with the line declining despite a brief price recovery, hinting at continued downward pressure.
Volatility and Bollinger Bands
Bollinger Bands widened as volatility increased during the early morning ET breakdown. Price action moved well below the lower band, indicating high volatility and bearish sentiment. A retest of the mid-band at $0.0078 could trigger short-covering or a minor reversal.
Forward-Looking View
Acala Token/Tether appears poised to
key support near $0.0075, with potential for a bounce or further consolidation. Investors should watch for a sustained close above $0.0078 as a sign of near-term reversal. As always, market conditions could shift rapidly, so caution is advised ahead of further directional moves.
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