$PNUT Next target?
Based on the latest analysis and market conditions:
Next Target for PNUT/USDT
1. Immediate Resistance Level: $1.60 - $1.65
The price is struggling to hold above the $1.60 level, which aligns with a critical short-term resistance zone.
A breakout above $1.65 could signal further bullish momentum, targeting $2.10, which is the next significant resistance level mentioned by analysts【11】【12】.
2. Immediate Support Level: $1.50
If the bearish momentum continues, PNUT is likely to test its immediate support near $1.50. Failure to hold this level might lead to a further decline toward $1.40 or lower, depending on market conditions【11】.
3. Technical Indicators:
RSI: Currently oversold, suggesting a possible short-term relief rally before any further downside.
EMA Levels: Price is trading below key moving averages (7 EMA, 25 EMA), indicating ongoing bearish sentiment in the short term.
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Scenarios
Bullish Case: A confirmed breakout above $1.65 could push the price to $2.10, supported by strong volume.
Bearish Case: Continued selling pressure could break support at $1.50, targeting $1.40 or lower.
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Market Sentiment
While short-term momentum leans bearish, the overall long-term sentiment is still cautiously optimistic due to PNUT's performance in previous weeks. High trading volume and attention to key resistance levels will dictate its next move【11】【12】.
