Key Details about
$PNUT Long Liquidation
Liquidation Value: $4,889.40
Liquidation Price: $0.48855
Market Context: The long liquidation suggests that bullish traders were forced to close their positions, likely due to downward price movement. This indicates increased bearish sentiment in the market.
Next Move Prediction
The long liquidation hints at potential further downside pressure if selling momentum continues. However, any signs of support at key levels could stabilize the price.
Bearish Case: If the price sustains below $0.48855, further declines are likely as market participants remain cautious.
Bullish Recovery: A reversal is possible if the asset rebounds strongly from support zones or if there is a surge in buying interest.
$PNUT Support and Resistance Levels
Immediate Support: $0.4700
Major Support: $0.4500
Resistance Level: $0.5000
Buy or Sell Recommendation
Sell/Short Recommendation: High-risk traders might consider shorting if the price continues to trade below $0.48855, targeting lower support levels.
Caution for Buyers: Wait for confirmation of a reversal before entering. Monitoring volume and market sentiment is crucial.
Risk Management: Set tight stop-loss levels and avoid over-leveraged positions to minimize losses in case of unexpected volatility.
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