$PNUT has experienced a liquidated long position of $51.8K at $0.727, suggesting potential bearish sentiment in the market.
The price may continue to decline, offering an opportunity for short positions.
Entry Point: Enter a short position around $0.72 to $0.74 for favorable risk-to-reward.
Stop Loss: Set the stop loss at $0.76 to limit potential upside movement.
Target: Aim for a target around $0.65, where strong support could halt further declines.
$PNUT is showing signs of weakness, and with the recent liquidation, a short trade could capitalize on the potential downward movement.
Keep an eye on market trends for confirmation.