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$PNUT has experienced an 8.61% drop in the last 24 hours, establishing a recent low of $1.2593 and currently facing a significant support zone at $1.3490. With signals of a possible pullback or continuation of the downtrend, this is a critical moment for traders looking to capitalize on strategic movements in this market.
📉 Critical Levels to Watch
Key Resistance:
• $1.3967: A breakout above this level could trigger bullish momentum towards higher targets, indicating recovery.
Key Support:
• $1.2593: This is the level that traders should monitor closely. A second test could result in a significant bounce, but a breakdown would indicate greater risks.
Objectives in Case of Recovery:
1. $1.3854: First short-term target if a bounce is confirmed.
2. $1.3967: The next critical resistance level to overcome.
3. $1.4320: This is the main bullish target if the price manages to break previous resistances and maintain momentum.
🚀 Possible Scenarios
1. Bullish Scenario:
• If $PNUT bounces from the current levels or from the support at $1.2593, it could quickly recover towards $1.3854 and eventually test the resistance at $1.3967.
• A breakout above $1.3967 would open the doors for a movement towards $1.4320.
2. Bearish Scenario:
• If the support at $1.2593 breaks, the price could continue to fall towards $1.2396 or even lower levels, which would require further market assessment to identify upcoming supports.
⚠️ Risk Management and Practical Tips
1. Stop Loss: Consider setting a stop loss below $1.2593 to minimize risk in case of a downward breakout.
2. Volume Analysis: Monitor the volume as a significant increase could confirm the movement (upward or downward).
3. Entry Strategy:
• Long Entry: Near support with bounce confirmation.
• Short Entry: If the price breaks below $1.2593 strongly.
📊 Conclusion
$PNUT is at a critical moment that could define its direction in the coming hours. Stay alert to the mentioned levels and trade with caution. These types of movements offer opportunities for traders attentive to the action of
