$PNUT

Technical Analysis

Price Fluctuation: The price has witnessed a sudden spike followed by a correction, indicating a sudden high interest and then a rapid decline.

Technical Indicators:

RSI: At an average level, indicating neither overbought nor oversold conditions.

MACD: No strong signal for a new trend, the indicator is near zero.

Bollinger Bands: Price is fluctuating around the average band, with no breakout signals.

Volume: Significantly decreased after the spike, indicating a decline in market interest.

Trading Recommendations

Bullish: Consider entering a buy order if the price surpasses the resistance level at 1.3 USDT with supporting volume, with a stop-loss below 1.18 USDT.

Bearish: If the price breaks the support level at 1.18 USDT, consider entering a sell order, targeting lower support levels.

Suitable For: Suitable for Spot trading to avoid high risks; Futures require caution with stop-loss placements; not recommended to use Grid Bot under the current unclear market conditions.

Advice

Be cautious in assessing additional external factors and market news before making trading decisions, as the analysis is based solely on current technical data.