$PNUT $PNUT

PNUT/USD Price Analysis: Charting the Path at $1.1317

Peanut (PNUT) is trading at $1.1317, positioning itself in a crucial range that could determine its next big move. Here’s a breakdown of the support, resistance levels, and trading strategies for navigating this price action.

Support Levels:

Immediate Support: $1.10 – A critical zone where buyers have previously stepped in to defend the price.

Major Support: $1.05 – This deeper level offers a potential entry point for traders aiming to capitalize on a bounce.

Resistance Levels:

Immediate Resistance: $1.15 – Breaking this level could spark momentum toward higher targets.

Major Resistance: $1.20 – A key psychological barrier and a significant point of interest for breakout traders.

Entry Strategy:

Buying on Pullbacks: Enter near $1.10 with a stop-loss below $1.08 to catch potential rebounds.

Breakout Trading: Look for entries above $1.15, targeting $1.18-$1.20 for a favorable risk-to-reward trade.

Technical Outlook:

The RSI indicates consolidation, signaling a balanced market that could tilt bullish with a strong push above resistance.

The MACD hints at growing momentum, suggesting a potential breakout in the near term.

At $1.1317, PNUT/USD sits in a decisive zone. Traders should stay alert for price action signals as the battle between buyers and sellers unfolds. A sharp move could present exciting opportunities!

Disclaimer: This analysis is for informational purposes only. Always assess market conditions and trade responsibly.

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