$PNUT /USDT Analysis: Key Levels to Watch! 🚨

Current Price: $1.207 (-2.32%)

PNUT/USDT is consolidating near $1.205, struggling to break the $1.24 resistance after multiple rejections. The chart indicates tightening price action with critical support at $1.18, suggesting a potential breakout setup.

Bullish Scenario

Long Entry: Above $1.24

Targets: $1.28, $1.32, $1.35

Stop Loss: $1.22

A sustained breakout above $1.24 could signal renewed bullish momentum.

Bearish Scenario

Short Entry: Below $1.18

Targets: $1.15, $1.10, $1.08

Stop Loss: $1.20

Failure to hold $1.18 support would confirm bearish continuation, aligning with the overall tightening market structure.

Market Outlook

The range-bound price action currently favors bears unless a breakout above $1.24 confirms bullish momentum. Keep a close eye on volume for confirmation and manage trades with disciplined risk management.

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