💰 #PNUT Analysis & Outlook
Let’s analyze the chart of #PNUT and evaluate its potential for the coming days:
🔍 Key Observations:
Moving Averages:
MA25 (Pink Line): Immediate resistance at 0.6603, currently limiting upward movement.
MA99 (Purple Line): Stronger resistance at 0.6552.
MA200 (Green Line): Significant resistance above at 0.6677, indicating bearish pressure.
Horizontal Support Levels:
Support 1: 0.6422 – A critical level for short-term stability.
Support 2: 0.6033 – A major support zone below.
📊 Market Overview:
Current Price: 0.6473
24-Hour High: 0.6802
24-Hour Low: 0.6350
24-Hour Volume:
PNUT: 86.00M
USDT: 56.48M
🎯 Strategy:
For Longs:
Enter only if the price reclaims MA25 (Pink Line) at 0.6603 and sustains above it.
Watch for a breakout above MA99 (Purple Line) at 0.6552 for confirmation of bullish momentum.
Ultimate bullish breakout would require the price to cross MA200 (Green Line) at 0.6677.
Place stops just below the 0.6422 horizontal support to manage risk.
For Shorts:
Consider a position if the price breaks below 0.6422, targeting the 0.6033 support level.
Stops should be placed slightly above MA25 to minimize losses.
🔥 Support & Resistance Levels:
Support:
0.6422 (Immediate Support)
0.6033 (Major Support)
Resistance:
0.6552 (MA99 - Stronger Resistance)
0.6603 (MA25 - Immediate Resistance)
0.6677 (MA200 - Significant Resistance)
💬 Outlook:
#PNUT is under bearish pressure below MA25, with limited bullish signs until it reclaims 0.6603. If it manages to break MA99 (0.6552) and hold above MA200 (0.6677), we may see significant recovery. A break below 0.6422 support could lead to further downside toward 0.6033.
Stay vigilant and trade wisely, Crypto Sat Traders! 🚀