$PNUT /USDT: Sharp Drop with Oversold Conditions – Is a Rebound Ahead? #PNUT is trading at $0.6413, down by -12.51% after falling from its 24-hour high of $0.7444 to a low of $0.6352. The RSI has dropped to 9.28, reflecting oversold conditions and a potential reversal opportunity.
Key Levels to Watch:
Resistance: $0.6600 – Breaking above this level could push PNUT toward $0.6900 and $0.7100.
Support: $0.6350 – A break below may lead to further decline toward $0.6200 or lower.
Trade Setup:
Long Entry: Above $0.6500, targeting $0.6900 and $0.7100.
Short Entry: Below $0.6350, targeting $0.6200 and $0.6000.
Stop-Loss: $0.6750 for longs or $0.6250 for shorts.
Market Insight:
PNUT's significant drop has created an opportunity for traders, but heavy selling pressure and declining momentum are evident. Watch for a volume-supported breakout or breakdown before entering trades.