The chart displays PNUT/USDT on a 1-hour timeframe with recent price action. Here's a quick analysis:
1. Current Price: $0.73464, up by 19.66% in the past 24 hours.
2. Support and Resistance:
Support: Around $0.58672 (recent low).
Resistance: Close to $0.78823 (24-hour high).
3. Indicators:
RSI (Relative Strength Index): At 60.85, it is approaching the overbought zone (above 70). This suggests bullish momentum but also hints at potential exhaustion.
Volume: Increased volume indicates active trading, which might sustain the momentum.
4. Next Move:
If buying pressure continues, the price might test the resistance at $0.78823. A breakout above this could lead to further upside.
If RSI hits overbought levels, a pullback toward $0.65–$0.70 support is possible.
For precise trading decisions, consider monitoring key levels, volume, and global market trends.
