$PNUT

Detailed analysis of the 4-hour chart for PNUT/USDT 🔎

1️⃣ Price Overview

•Current Price: $0.6959

•24-Hour Change: +11.18% 🔼

•The price recently bounced back from a downtrend, indicating some buying interest.

2️⃣ Key Levels

•Resistance: $2.50 (Previous high; major resistance) ⚠️

•Support: $0.58 (Recent low before recovery) 🛡️

•Mid-Level Resistance: $0.86 (Minor rejection observed) 📉

3️⃣ Volume Analysis 📊

•24H Volume: High trading activity (~206M PNUT).

•Observation: High volume during price spikes but tapering off during consolidations. This suggests traders are booking profits after short-term moves.

4️⃣ Trend Analysis 📈📉

•Early November Rally: Massive surge from $0.10 to $2.50 🚀

•Likely driven by hype or news.

•Post-Rally Decline: Steady drop back to sub-$1 levels 🔻

•Indicates a lack of sustained demand.

5️⃣ Indicator Insights 🔍

•Moving Average (MA):

•The short-term MA likely shows bearish pressure as prices are below major levels.

•RSI (Relative Strength Index):

•If shown, RSI would likely be neutral, reflecting consolidation after the rally.

6️⃣ Candlestick Patterns 🕯️

•Large red candles followed the rally, signaling panic selling.

•Recent smaller green candles suggest recovery or consolidation.

7️⃣ Next Moves 🔮

•Bullish Case: Break above $0.86 → Retest of $1 and potentially $1.75.

•Bearish Case: Drop below $0.58 → Downtrend to test $0.40.

8️⃣ Strategy Ideas 📌

•Short-Term Traders: Watch for breakout or breakdown at $0.86 or $0.58. 📊

•Long-Term Investors: Evaluate fundamentals before entering, as this appears volatile.