$PNUT This coin didn't catch a good time! Once it gets listed, it's been a continuous decline and I don't know how much longer it will slide. The project team won't find an opportunity!
If you were listed in January 2025, it wouldn't be like this now.
I wonder if there were classmates who chased high prices on pnut and got stuck; I think many must have been trapped! This is the price to pay for chasing high. As long as it doesn't go to zero, there is hope, keep it up!
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Talking through the chart: In the 4-hour level, the M-top has already formed. If it breaks below 0.6, it could go to 0.5613-0.3771. Let's see if these two support levels can hold! If they hold, there could be a bounce, but if the second coin is weak, it won't be able to bounce.
The Fibonacci 1:1 upward target at 0.75 has been reached, and it didn't challenge the 1.618 position. It couldn't even hold the 1:1 target before coming down, the selling pressure above is truly frightening.
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According to wave theory, we are currently in the 4th wave correction, and the 5th wave is already gone since the 4th wave correction has dropped below the high of the 1st wave, indicating a failure of wave theory. From multiple indicators, pnut is in a downward trend with no decent bounce at all; is it heading towards zero?
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For pnut to strengthen, it must break and hold above 0.79 to look at the upper target of 0.93-1.0. If it can't hold above 0.79, it will continue to decline.
Finally, for those who are optimistic about the future development of pnut, you can buy the spot in batches at the two positions circled in yellow on the chart. If it continues to drop, I don't recommend averaging down. If you think pnut has potential for growth in the future, buy it; if you think it will go to zero, then don't buy.
You don't have to buy just because I analyzed it; you should have your own subjective judgment. I hope my interpretation helps everyone. Meeting adjourned.