Peanut the Squirrel is losing support
According to the 12-hour chart of Peanut the Squirrel $PNUT , selling pressure continues to rise. Currently, the meme coin's price line is below the red line of the Super Trend indicator, which determines the overall direction and strength of the trend.
This positioning of the lines indicates a downward trend for the cryptocurrency. The analysis of the indicator confirms the bearish forecast. The weakening of the Relative Strength Index (RSI) of PNUT confirms the increase in selling pressure. At the time of publication, the indicator value is 45.81, which is below the neutral mark of 50.
Such an RSI is another signal that buyer activity is decreasing. This trend threatens to lead to a prolonged price decline.
