$ACT There was a long liquidation for ACT with $4,430.5K at $0.41472. This means that traders who were expecting the price to rise have been forced to close their positions, potentially causing a drop in price.
Key Details:
1. Long Liquidation: This suggests that the market could be facing downward pressure as traders who were betting on price increases have had to sell.
2. Price Level: The current price is $0.41472. If the price falls below this level, it could indicate further downside.
3. Market Sentiment: A long liquidation often leads to increased volatility, and the market might turn bearish in the short term.
Next Move:
1. Look for Price Reversal: If the price stabilizes around $0.41472 or starts moving up again, you might want to consider a buy position.
2. Set Stop-Loss: If you buy, ensure you set a stop-loss just below the liquidation price to limit potential losses.
3. Watch for Support: If the price continues to fall, it might be better to wait for a solid support level to form before making a move.
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