$PNUT /USDT Technical Analysis - Targets Update
Current Price: $0.7543
Change: +8.63% (30m timeframe)
$PNUT /USDT is demonstrating strong upward momentum, breaking through significant resistance levels. The current rally presents potential for further gains if key targets are reached. Here are the three targets to monitor:
---
First Target: $0.7750 (Immediate Resistance)
Analysis:
A short-term resistance level that aligns with the 24h high of $0.7749. Breaking this level will confirm continued bullish momentum.
Action Plan:
Partial profit-taking is recommended near $0.7750. Watch for increased volume for confirmation of breakout.
---
Second Target: $0.8000 (Key Psychological Level)
Analysis:
The $0.8000 mark represents a psychological barrier and a key milestone for further bullish movement.
Action Plan:
Adjust stop-loss to $0.7500 to secure gains. Monitor RSI for overbought conditions and look for confirmation candles above $0.7750.
---
Third Target: $0.8500 (Extended Target)
Analysis:
This level marks an extended target in case the bullish momentum sustains. It represents a 12.7% rise from the current price.
Action Plan:
Trail stop-loss higher after $0.8000 and secure profits gradually as the price approaches $0.8500.
---
Support Levels to Watch:
$0.7200: Immediate support in case of pullbacks.
$0.6600: Key support level, acting as a strong fallback zone.
Trading Strategy:
Use a stop-loss below $0.7200 to minimize risk.
Gradually adjust stop-loss upward as targets are achieved to lock in profits.