ACT Coin Disappoints Many Users After Early Sellsoff Following CEX Listing

The new Solana-based, AI-focused ACT coin has disappointed many users after an early selloff following its recent listing on centralized exchanges (CEX).

A new AI-focused coin, called ACT, has left many users disappointed after an early selloff following its recent listing on centralized exchanges (CEX).

Launched in October 2024, ACT was listed on Binance, HTX, and KuCoin, among many other platforms. TradingView’s data shows that ACT surged significantly shortly after the CEX listings before making a U-turn, with the newly launched crypto losing nearly all the recent gains in the process.

The crypto coin’s quick decline left many users wondering what could be behind the drastic drop, especially in a season when the overall crypto market is heading upward.

ACT’s Price Action and Analyst Interpretations

Historical data shows that ACT surged 124% between November 12 and 15, rising from $0.42648 to $0.95456. However, the crypto token turned around when users expected it to achieve the psychological $1 milestone and align with the crypto market’s bullish momentum.

ACT has declined 54% after achieving the $0.95456 high, with analysts attributing the price drop to the typical new cryptocurrency behavior. Based on the analysts’ assumptions, ACT followed a typical pattern where newly launched cryptocurrencies rarely maintain their initial bullish momentum for long periods.

According to analysts, profit-taking by pre-launch participants triggers such declines, driving the price lower until the asset reaches an attractive entry point. However, the analysts expect ACT to rebound soon, citing technical signals that suggest decreasing downward pressure.

The analysts cited specific indicators, including ACT’s recent collision with the downward trendline, which suggests preparations for a turnaround. Also, the price appears to form a bottom, having established support on the lower timeframe charts. Newer candles are fading in trading volumes, suggesting the profit-takers are running out.

Despite the recent decline, analysts predict ACT will recover. They believe its status as a memecoin within the Solana ecosystem will support its growth after the initial volatility subsides.

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