Binance Technical Analysis: PNUT/USDT – Targeting Key Levels 🎯
The PNUT/USDT pair has been making waves on Binance, showing impressive volatility and price action over the past 24 hours. After a strong surge of +150.81%, the price has attracted traders and investors alike. Let’s break down the current technical setup and identify key levels for potential moves.
Current Price: $2.17
The price has recently seen significant upward momentum, currently sitting at $2.17. But where does it go from here?
Key Levels & Targets 🎯:
1. Target 1: $2.50 (24h High)
Resistance: The $2.50 mark is the recent high for PNUT/USDT. If the price can break through this level, it could signal further bullish momentum. This level also aligns with historical resistance, making it a critical point to watch for potential continuation or reversal.
2. Target 2: $2.00 (Psychological Support)
Support Zone: The $2.00 level provides a strong psychological barrier for buyers. If the price retraces, this area could act as key support. A bounce from here would likely suggest that buyers are stepping in, potentially driving prices back toward higher targets.
3. Target 3: $1.00 (Retracement/Lower Support)
Critical Support: The $1.00 mark acts as a significant psychological level, as well as a support point that buyers may defend in case of a deeper correction. A drop to this level could trigger a strong reaction from the market, particularly if the broader trend remains bullish.