Here's the latest analysis update for PNUTUSDT:
- Current Market Sentiment: Bullish, with several indicators suggesting a strong buy signal.
- Key Levels:
- Resistance Levels: $0.2689, $0.2920, $0.3271
- Support Levels: $0.1122, $0.1170, $0.1218
- Technical Analysis:
- Falling Wedge Breakout: Confirmed on the 3-day timeframe chart, with a midterm target of $0.25
- Inverse Head & Shoulder Pattern: Still valid on the weekly chart, with targets ranging from $0.2689 to $0.7145
- Bullish Divergence: RSI signaling 5th wave completion (corrective)
- Trade Ideas:
- Long Position: Enter around $0.1558, with targets at $0.2689, $0.2920, and $0.3271
- Stop Loss: Set at $0.1140
Some experts believe PNUT has the potential to rally due to its memecoin trend. Additionally, PNUT's listing on CoinW may also impact its price.
However, keep in mind that cryptocurrency markets are highly volatile, and prices can fluctuate rapidly. Always conduct thorough research and consider multiple sources before making investment decisions.
