ACT Price Update: Potential Downtrend and Shorting Opportunity Ahead
The price of $ACT has failed to drop below the $0.20 mark as expected, but it has now reached a new level of downward pressure. Given the technical adjustments in Ethereum's market movement, it is highly probable that $ACT will move towards the $0.18 or even $0.16 range in the near future.
At the current price of $0.24, a short position is recommended, as it appears to be a strategic entry point. Traders should keep a close eye on the weak support around $0.23, as further downward pressure could result in a break below the $0.22 level. Overall, market conditions remain bearish for $ACT this week, and the likelihood of continued declines is high.
As we monitor the situation, it's important to stay vigilant about potential price movements and adjust strategies accordingly. With the market sentiment currently leaning bearish, there could be more opportunities for shorting, especially if key support levels fail to
hold.
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