$PNUT /USDT Analysis

Current Price: $1.3733

Key Observations:

* Downward Trend: The chart shows a clear bearish trend with lower highs and lower lows.

* Support & Resistance: The price is currently testing the support level at $1.2593. A break below this level could lead to further downside.

* Volume: Low trading volume indicates a lack of strong buying or selling pressure.

Trade Ideas:

Short Trade:

* Entry: Sell at $1.3733 (current price)

* Target: $1.2593 (support level)

* Stop-Loss: $1.5784 (24-hour high)

Risk Management:

* Use leverage judiciously to optimize returns.

* Set realistic stop-loss levels to minimize potential losses.

Market Outlook:

The bearish pattern suggests a continuation of the downward trend. Traders should exercise caution and consider short positions with proper risk management.

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