Whale Alert: Acet (ACT) and Peanut (PNUT) Experience High Volatility as Prices Shift

Acet (ACT) and Peanut (PNUT) are experiencing significant price volatility, with both tokens facing strong resistance. ACT is on a downward trend, while PNUT remains volatile despite its larger market capitalization. This volatility follows a recent whale transfer that has shaken investor confidence.

Acet (ACT) Price Analysis and Trading Insights

ACT experienced a notable price movement over a 1-day period. The token started at approximately $0.05387 but fell to $0.04677, marking a 13.24% decline. This downward trend persisted throughout the day, with a notable price peak beyond $0.053 that soon reversed into consistent declines.

The price action indicated significant resistance near $0.05387. For ACT to shift into an upward trajectory, breaking through this resistance level is critical. The current price level of $0.04677 could act as short-term support, but a breach below this might trigger further declines.

Source: Coinmarketcap

The trading volume for ACT over 24 hours stood at $973.07K, reflecting a significant 72.52% decrease. This sharp reduction points to reduced market interest, contributing to potential price instability. The volume-to-market cap ratio at 128.18% underlines the high volatility associated with ACT, as it suggests notable trading activity relative to its market cap.

ACT/USD 1-hour price chart, Source: Trading view

With a market cap of $757.05K, ACT remains relatively small, making it susceptible to rapid price changes. The 1-hour RSI reading of 44.78 suggests a neutral position, while the MACD indicator, trading below the signal line, hints at short-term downward pressure.

PNUT Market Performance and Key Levels

PNUT also experienced a sharp price decline over the past day. Starting near a peak of $2.1875, the token fell to $1.79, reflecting a 17.04% drop. This decrease included a significant plunge from the initial high, with volatile movements throughout the day.

Read also: Meme Coins DOGE, PEPE, PNUT Fuel Speculative Crypto Cycle: Santiment

Source: Coinmarketcap

The $2.1875 mark stands out as a strong resistance level. A clear break above this point would be needed for a bullish outlook. On the downside, the price touched a low around $1.60, suggesting potential support. Falling below this level could signal additional price weakening.

The 24-hour trading volume for PNUT was recorded at $3.28B, despite a 43.21% reduction from prior levels. However, the 185.25% volume-to-market cap ratio signals robust trading activity, indicating continued high volatility.

PNUT/USD 1-hour price chart, Source: Trading view

PNUT’s current market cap of $1.79B reflects its status as a larger market player. The fully diluted valuation (FDV) closely matches the market cap at $1.80B, showing that most tokens are already circulating. PNUT’s 1-hour RSI of 50.88 indicates a balanced market, while the MACD reading below the signal line points to potential downward momentum.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

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