š$PNUT PNUT/USDT ā Sharp Decline Amid Bearish Sentiment
š Current Price: $0.6834 (-16.09%)
š 24H High: $0.8268
š» 24H Low: $0.6377
š° Volume:
PNUT: 350.44M
USDT: 255.93M
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Market Analysis
PNUT/USDT has dropped over 16% in the last 24 hours, falling to a key low of $0.6377. The strong selling pressure has pushed the pair into oversold territory, and the market may see a consolidation phase or a relief bounce soon.
Immediate Resistance: $0.7000 ā A recovery above this level could signal short-term bullish strength.
Support Zone: $0.6370 ā Holding this level is critical to prevent a further slide to $0.6000.
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Next Moves
1. For Buyers:
Look for entries near $0.6370, with potential targets at $0.7000 and $0.7500.
Ensure volume and price stabilization before taking positions.
2. For Sellers:
Monitor for rejection near $0.7000 to short, targeting $0.6000 as the next support.
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Key Insights
Bearish Momentum: Sellers continue to dominate, but the price could stabilize if key support holds.
Volume Surge: High trading volume indicates active market participation despite the downtrend.
Risk Management: Tight stop-losses are essential, given the high volatility in the current market.
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Final Thought
PNUT/USDT is at a critical juncture, with key levels in focus. Traders should watch for a decisive move around $0.6370 to guide their strategies.