Massive $ACT Short Liquidation Alert.

Amount Liquidated: $21.264K

Liquidation Price: $1.2636

What Happened.

A significant short position on got wiped out at the price level of $0.39867, indicating strong upward momentum. This means bearish traders betting on a price drop faced heavy losses as the market surged, hitting their liquidation price.

What Does This Mean for $ACT?

1. Bullish Momentum:

Liquidations of this scale often signal a short squeeze. The forced buying from shorts amplifies the upward price pressure.

2. Key Levels to Watch:

Resistance Zone: If $ACT continues its rally, key resistance levels are likely around $0.42 and $0.45.

Support Zone: If the price retraces, strong support might lie near $0.38 and $0.37.

3. Market Sentiment:

A short liquidation of this size reflects growing bullish sentiment or possibly whale activity driving the price up.

Trading Tip: How to Play This.

For Buyers:

Entry Point: Look for pullbacks near $0.38-$0.39 for potential entries.

Targets: Aim for $0.42 and $0.45.

Stop-Loss: Set a stop-loss below $0.37 to manage risk.

For Sellers:

Watch out for exhaustion signals near resistance levels $0.42 or $0.45.

Stay sharp and monitor $ACT closely. A price surge often attracts both new buyers and cautious profit-takers. Keep your strategies tight and watch the charts.

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