Technical Analysis Summary for PNUT/USDT
Current Price: $0.8724
Trend: Bearish (down 17.88% in the last 24 hours)
RSI: Not provided, but based on the price drop, it may be in the oversold region.
SAR (Parabolic SAR): 0.9704, indicating a downtrend (below current price).
Support Levels:
$0.8500 (near recent low)
$0.8412 (stronger support)
Resistance Levels:
$0.9056 (near buy depth)
$1.0255 and $1.0343 (higher resistance)
Trade Signal:
Momentum: Bearish (significant drop over 24 hours). However, there's a possibility of a short-term reversal if the price bounces off support.
Trade Setup:
Entry: $0.8724 (current price)
Stop Loss: $0.8412 (below key support level)
Target Levels 🎯:
1. Target 1: $0.9056 (Sell into resistance)
2. Target 2: $1.0255 (Potential reversal zone)
3. Target 3: $1.0655 (Previous high from 24h range)
Conclusion: The current bearish momentum may continue unless the price shows signs of reversal at support levels. Watch for a price bounce at $0.8500 for a potential short-term buying opportunity, aiming for $0.9056 or higher targets.
