PNUT/USDT Market Analysis and Trading Strategy

Market Overview

The current price of PNUT is $0.6292, down -7.54% for the day, indicating that bearish sentiment remains strong. From the chart, the price has been consistently suppressed by the MA7 and MA25 moving averages, and the MACD indicator continues to decline, suggesting that the short-term trend is primarily weak and volatile.

Key Levels

• Support Levels: $0.5850, $0.5040

• Resistance Levels: $0.6480, $0.7300

Short-term Trading Strategy

1. Long Position Strategy:

• If the price stabilizes around $0.5850, a light position can be attempted for a long position, targeting $0.6480 and $0.7300, with a stop loss set at $0.5700.

• If it breaks through $0.6480, you can follow up with additional positions, targeting $0.7300.

2. Short Position Strategy:

• If the price breaks below $0.5850, a light position can be attempted for a short position, targeting $0.5040, with a stop loss set at $0.6000.

• If there is resistance near $0.6480 during a rebound, a short position can be attempted, targeting $0.5850, with a stop loss set at $0.6600.

Market Outlook

PNUT is overall in a downtrend, with a relatively weak short-term trend. It is recommended that investors focus on defense and wait for key support or resistance breakthroughs before making moves.

Daily Analysis

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