ACT Daytime Bull-Bear Massacre: Whales Precisely Force Liquidation, Avoid These Minefields
At 9:47 AM, Binance spot suddenly saw a market sell order of 38,000 ACT, directly smashing the support level of $0.072 into pieces, with the hourly volume increasing 2.6 times forming a standard bearish engulfing pattern.
On-chain monitoring shows that two new whale addresses recharged 218,000 ACT (worth $15,700) to the exchange in the early morning, with the average recharge price of $0.0723 highly coinciding with the crashing price level, triggering at least $2.7 million in long liquidation orders.
Currently, the support level of $0.0712 hides three secrets: first, it is the middle band of the weekly Bollinger Bands; second, it is the concentrated area of miners' costs from February; and most importantly, this position is stacked with stop-loss orders worth $840,000. Market data reveals traces of major force controlling the market—there are 4,700 ACT sell orders at the first sell wall corresponding to a +650,000 sell ratio, while the actual buy orders only have 900 ACT resting, this kind of false market support while truly offloading has continuously harvested three waves of bottom-fishing funds.
In terms of news, the ACT development team urgently deleted the announcement of delaying the cross-chain bridge upgrade this morning, instead promising to complete the mainnet iteration before Q3. However, on-chain monitoring detected that the market maker's address is transferring 380,000 ACT to Bybit, along with the perpetual contract funding rate plummeting to -0.38%, indicating that institutions are constructing a short arbitrage strategy. Even more bizarre, the open interest of OKX quarterly contracts suddenly increased by 18%, while spot trading volume shrank by 41%, a typical volume-less decline.
Now, for the bulls to turn the tide, two conditions must be met: the price must firmly hold above $0.073 on the hourly level and recover the MA30 moving average (current dynamic position $0.0741), while also requiring at least 5 million ACT in supportive buy orders. If the defense line at $0.071 is breached, the strong support at the weekly level directly targets $0.0669 (the launch point of December 2023).
So recently, I have set up a position for a significant spot surge!
I will continue to position for strong coins, if you want to follow the 👆 strategy🚙: 111
