The altcoins are currently rotating rapidly with the fluctuations of Bitcoin. Today, BN's new coin Gemini ACT and PNUT showed a good rebound. However, it is now the night session in the United States, and the rebound is not accompanied by a burst of volume, so its continuity needs to be observed.
From the perspective of the K-line structure, the 4-hour chart may be in the bottoming stage. The upper pressure level of ACT is 0.49, and the upper pressure level of PNUT is 1.3. In order to achieve a reversal, these pressure levels must be broken through in large volume, and the turning point of the rebound may appear.
It should be noted that ACT and PNUT should not be compared with PEPE because they have different cycles. PEPE initially developed on the chain, and it was not until the last wave of outbreaks on Binance in May 2023, and finally ushered in the market adjustment wave in 2024, that it ushered in its own outbreak.
As the "new assets on the chain" of this bull market, ACT and PNUT appeared in the early stage of the overall upward trend of the market, and the BTCD indicator has just gone down, and the altcoin season has just begun. According to the practice in the cryptocurrency circle, new assets tend to become the main line targets, and the main line assets usually do not die after a short-term rise. This is the underlying logic of trading these two coins.
