$PNUT $PNUT

PNUT/USD Analysis: Eyeing the $1.1267 Level

PNUT/USD is currently trading at $1.1267, a key price point that could mark the beginning of a major move in either direction. With the market showing signs of consolidation, this level is crucial for identifying potential breakout or pullback opportunities.

Key Levels to Watch

Support: $1.1000 – A reliable support zone where buyers may step in, offering a possible rebound if the price tests this level.

Resistance: $1.1500 – A breakout above this level could signal bullish momentum, pushing PNUT/USD toward $1.1700.

Entry Strategy

1. Bullish Scenario: A confirmed move above $1.1267 with strong volume could signal a buying opportunity, targeting $1.1500 and $1.1700.

2. Bearish Scenario: If PNUT/USD fails to hold above $1.1267, short positions may target $1.1000 or lower.

Momentum Indicators

RSI: Neutral, indicating potential for movement in either direction.

MACD: Slightly bullish, suggesting upward momentum may continue.

Conclusion

The $1.1267 level is critical for PNUT/USD, providing opportunities for both breakout and retracement strategies. Traders should keep an eye on price action and volume for confirmation before making their next move.

What’s your outlook for PNUT – breakout or retracement? Let’s discuss below!

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