PNUT/USDT Analysis - Safe Trading Strategy

PNUT is trading around 1.8368 USDT, down 4.91% in the last 24 hours. On the 1-hour chart, the price has been trending sideways after reaching a peak of 2.5 USDT. Technical indicators show:

• EMA(9) and EMA(21) are trending sideways, indicating that the bullish momentum has slowed down and the market is likely to correct.

• MACD is oscillating near 0 with the histogram not fluctuating much, indicating that the trend is not clear.

• RSI(14) is at 52, indicating no overbought or oversold signals, the market is in a balanced state.

Safe Trading Strategy:

1. Buy Zone: If the price continues to correct and return to the support zone around 1.5 - 1.6 USDT, this could be a safe buy zone, as it is close to the lowest price in the past 24 hours.

2. Take Profit Zone: If the price increases again, the resistance zone of 2.1 - 2.2 USDT could be the profit-taking point. If it breaks through 2.2 USDT, PNUT is likely to approach the peak of 2.5 USDT again.

3. Stop Loss: Set a stop loss below 1.5 USDT to minimize risk if the price continues to fall deeply.

Note: This strategy is safe and suitable for short-term trading.