PNUT Continuous Decline, When Will It Bottom?
Market Analysis
PNUT has recently shown a clear downward trend, continuously closing in the red, with prices dropping below the 1.10 level, leading to weak market sentiment. From the trading volume perspective, the decline is accompanied by increased volume, and there is likely further downside risk in the short term, awaiting signs of market stabilization.
Support and Resistance Levels
• Support Levels: 1.05, 0.95, 0.92
• Resistance Levels: 1.10, 1.18, 1.29
Short-term Trading Strategy
Long Position Strategy:
• Entry Point: 1.05
• Add Position Point: 0.95
• Stop Loss Point: 0.90
• Take Profit Targets: 1.10, 1.18, 1.29
Short Position Strategy:
• Entry Point: 1.10
• Add Position Point: 1.18
• Stop Loss Point: 1.32
• Take Profit Targets: 1.05, 0.95, 0.92
My Prediction
The downward trend of PNUT is quite evident, and there may still be potential for further declines in the short term. However, as prices gradually approach the key support range, the chances of a rebound are also gradually increasing. It is advisable to buy on dips and stagger positions near the support levels, taking profits promptly after a rebound.
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