🚀 PNUT/USD Analysis: Bullish Outlook as Momentum Increases

Peanut (PNUT) is currently trading at $0.6989, showing strong bullish momentum as the market appears ready to rally further. The token has attracted attention, and its current price action indicates potential for further upside.

📉 Support Level: The key support level is $0.6800, where the price has previously bounced, providing a solid foundation for subsequent bullish moves.

📈 Resistance Zone: The immediate resistance level is at $0.7100, with a breakout above this level likely to push PNUT towards the next resistance at $0.7300.

💡 Trading Strategy:

For Bulls: Consider entering near $0.6900, with a stop loss at $0.6750. Target levels are $0.7100 and $0.7300 for the next bullish move.

For breakout traders: Wait for a confirmed breakout above $0.7100 with increased volume before entering, signaling the start of a new bullish phase.

🔥 Market Sentiment: The market sentiment towards PNUT is positive, with increasing interest driving its current price surge. Be attentive to any catalysts or news that could accelerate the bullish move. Ensure to manage risk carefully, particularly in the event of any pullbacks before the next breakout.

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