$PNUT (UPDATE ALERT) Will decline to 1.5$:

Based on the current chart and indicators, here's an analysis of whether PNUT/USDT could decline to $1.50:

Factors Supporting a Decline to $1.50:

1. Support Level at $1.50:

The 24-hour low is $1.53, close to $1.50, indicating this zone could act as a strong support if a decline occurs.

2. Overextended Rally:

If the recent rally has pushed the price too far from its moving averages (like EMA 7 and EMA 25), a pullback could target key support levels such as $1.50.

3. Volume Decline:

If trading volume drops, it could indicate weakening bullish momentum, increasing the likelihood of a retracement toward $1.50.

Factors Suggesting It May Not Decline:

1. EMA Support:

The price is currently holding above the EMA(7) and EMA(25). Unless it breaks below these levels, the trend remains bullish.

2. Stochastic RSI in Oversold:

With Stochastic RSI already in the oversold region, a price rebound might happen soon rather than a deeper correction to $1.50.

3. Bullish Momentum:

As long as the price stays above $1.80 (EMA 7), it suggests buyers are defending higher levels.

Conclusion:

While a decline to $1.50 is possible if bearish momentum intensifies and the price breaks below $1.80, it’s not guaranteed unless major support levels are breached. Watch for:

Break below $1.80: This could signal further downside.

Low trading volume: Indicates weaker buying pressure.

Set alerts around $1.80 to monitor any potential downtrend development.