$ACT Long Liquidation Alert: $1,590.7 worth of long positions liquidated at $0.34335. The market is heating up, and this could indicate an important price movement. Here's what you need to know and consider:

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Key Details:

1. What Happened:

A long liquidation means traders betting on the price increasing were forced to sell due to a significant price drop.

2. Price Level:

The liquidation occurred at $0.34335, a critical point to watch. It may act as resistance now if the price struggles to recover.

3. Market Sentiment:

Liquidations often cause sharp downward movements or heightened volatility, signaling bearish pressure.

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Next Steps:

1. Monitor Key Levels:

Support: $0.34 (psychological level).

Resistance: $0.3435 (recent liquidation price).

2. Short-Term Action:

If the price holds above $0.34, there might be a chance of recovery.

If it breaks below, expect further drops. Wait for the price to stabilize before making moves.

3. For Holders:

Set a stop-loss slightly below $0.34 to avoid major losses.

Watch for buying opportunities if the price rebounds strongly.

4. For Traders:

Risk Takers: Consider shorting if the price stays bearish.

Conservative: Wait for confirmation of the trend (upward or downward