๐ PNUT/USDT Analysis: Key Levels and Smart Strategy ๐
The PNUT/USDT pair is currently trading at $1.5837, showing a sharp 15.29% drop in the last 24 hours, signaling heavy bearish pressure. The chart reveals critical support at $1.4564, which aligns with the recent low. If this level breaks, the next leg downward could accelerate. On the upside, resistance lies at $1.5885 (near MA-7) and a stronger ceiling at $1.7215 (MA-25). These zones act as barriers, where price struggles to move higher.
Entry Strategy:
For short-sellers, watch for a rejection at $1.5885, targeting $1.46, with a stop-loss above $1.60.
Buyers, keep an eye on a breakout above $1.59 with volume confirmation, aiming for $1.72, and use a tight stop below support at $1.45.
The marketโs high volatility (24h range: $1.45 - $1.94) offers lucrative opportunities, but risk management is crucial. Will buyers step in at support, or will bears break the floor? Stay alertโbig moves might be around the corner!