$PNUT The boldest prediction is here!
The current price of PNUT is $1.656. In the past 24 hours, it rose to $1.6450 at the highest and fell to $1.5900 at the lowest, with about 4.3 million transactions. The current price seems to be swinging back and forth in a range, with buyers and sellers having similar strengths, and the short-term is mainly a small technical fluctuation.
Technically, the support and resistance positions of PNUT are very clear:
If it falls below $1.5900, it may fall to $1.5600. But if it breaks through $1.6450, it may continue to rise to $1.6700.
Looking at the technical indicators again, PNUT is now like walking on a middle road, with both sides getting narrower and narrower, indicating that it may soon choose a direction to break through. The RSI indicator shows that the market is slightly more biased towards buyers, but the MACD indicator shows that the strength of buyers and sellers is similar and has not yet decided which way to go.
If you want to trade PNUT short-term, you can try these two strategies:
When the price falls back to between $1.6000 and $1.6100, you can buy. If the price falls below $1.5800, you have to sell it quickly to prevent further losses. The goal is to rise to $1.6400 to $1.6450. If it breaks through, you can also expect to rise to $1.6700. It is recommended to use 5 to 10 times leverage, but you must remember to set a stop loss point.
If the price rises to between $1.6400 and $1.6450, you can sell it. If the price breaks through $1.6600, you must quickly admit defeat and sell it to prevent further losses. The goal is to fall to $1.6100 to $1.6000. If it falls below, you can also expect to fall to $1.5900. It is recommended to use 3 to 5 times leverage, but be careful to control risks.
In general, PNUT may still fluctuate between $1.5900 and $1.6450 in the short term. If it breaks through the resistance, it may rise to $1.6700, and if it falls below the support, it may return to $1.5600. Friends who want to trade PNUT in the short term can take this opportunity to try the long-short strategy, but be sure to set the stop-profit and stop-loss points.
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