$PNUT Trading Update

A recent long liquidation worth $12.432K occurred at a price of $1.27069 indicating selling pressure in the market.

Here’s a breakdown of what this means and the actionable steps you can consider for your next move.

1. Liquidation Trigger.

Long positions were forcibly closed as the price dipped below a key support level.

This reflects a bearish sentiment in the short term.

2. Impact on Market Sentiment.

Large liquidations often cause temporary volatility.

A mix of sell-offs and buyer interest near support levels can follow.

Buy Zone. $1.24 to $1.26

This is a strong support area based on previous price action.

Look for a confirmed bounce before entering.

Target Levels (Profit Zones).

1. First Target: $1.32 (Short Term Resistance)

2. Second Target. $1.40 (Medium Term Resistance)

3. Final Target. $1.50 (Strong Resistance and Psychological Level)

Stop Loss.

Set a stop loss at $1.22 to limit downside risks.

This level ensures you exit if the bearish momentum intensifies.

Strategy Suggestions:

1. For Buyers.

Wait for a pullback near $1.24-$1.26 and monitor trading volume.

Enter if there’s a bullish reversal pattern like a double bottom or hammer candlestick.

2. For Sellers (Shorting).

If the price breaks below $1.22, it might drop further toward $1.18-$1.20.

Short positions should be cautious as buyers may defend key support zones aggressively.

Risk Management Tips.

Never invest more than 5-10% of your portfolio in a single trade.

Always use a stop-loss and ensure a risk reward ratio of at least 1:2 for profitability.

Stay updated with market news or whale movements for sudden price actions.

Market Outlook.

Current momentum suggests consolidation or a slight pullback.

If $PNUT sustains above $1.26, we might see a rally towards $1.32.

This analysis is for informational purposes only. Always conduct your own research before making investment decisions.

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