$PNUT
Based on the provided PNUT/USDT chart, I will analyze the key technical factors:
1. Current trend:
- Price is at 1.1280 USDT, sharply down -16.54%
- In a clear downtrend with both short and long-term MA lines going down
- Price has hit a 24h low of 1.0414
2. Technical indicators:
- RSI(6) at 45.53 indicates the market is in a neutral bearish zone
- MACD is negative (-0.0032) with DEA = -0.0585, indicating ongoing selling pressure
- Stochastic RSI shows signs of a slight recovery from the oversold zone
3. Trading volume:
- 24h volume PNUT: 425.10M
- 24h volume USDT: 512.24M
- Volume is maintaining at an average level
Forecast scenarios:
1. Bearish scenario:
- Price may continue to test the support area 1.04-1.05
- If this level cannot be held, it may test the area 0.99
2. Recovery scenario:
- Need to break through the MA20 resistance at 1.1935
- If successful, may aim for the area 1.25-1.30
Recommendations:
- Caution is advised at this stage as the downtrend is still strong
- It may be wise to wait for a clearer reversal signal before participating
- Set tight stop-loss if participating in trading
- Should monitor further volume and news about the project for a more accurate decision