CandleFocus ACT Coin Plunges After CEX Listing: What’s Behind the Sell-Off?
2024-11-22
Author: Content Editor
The new Solana-based cryptocurrency ACT has disappointed users with a significant selloff following its recent listing on centralized exchanges. The coin initially experienced a surge in value before losing nearly all of its recent gains. Analysts attribute this decline to typical behavior for newly launched cryptocurrencies and expect ACT to rebound soon. Technical signals, such as a collision with a downward trendline and establishment of support levels, suggest a potential turnaround. Despite the recent decline, analysts believe that ACT will recover, especially given its status as a memecoin within the Solana ecosystem. However, it is important to note that the information presented in this article is for informational purposes only and does not constitute financial advice.
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