PNUT drops to $1.09, how should short-term strategies respond to volatility?

Market Overview:

Currently, the price of PNUT (Peanut Coin) is $1.0953, showing a strong oscillating upward trend, breaking through the support zone of $1.05 and successfully stabilizing around $1.09, indicating a certain upward potential. As market sentiment gradually warms up, PNUT is expected to continue challenging the resistance level of $1.10. However, considering the recent significant price fluctuations, a pullback may occur in the short term, so short-term operations should be handled with caution and be flexible in responding to volatility.

Technical Analysis and Key Levels:

From a technical perspective, PNUT has broken through the key support level of $1.05, and the current price is around $1.09, close to the strong resistance level of $1.10. If it can break through $1.10, it may rise further to $1.12. However, if it fails to break through $1.10, the price may experience a pullback. The support level below is at $1.08; if this level is broken, it may fall back to $1.05.

Short-term Support Level: $1.08 Short-term Resistance Level: $1.10 Long-term Target Level: $1.12

The RSI indicator shows that PNUT is currently in a relatively strong area but has not yet entered an overbought state, indicating that the current upward momentum has not exhausted, but caution is needed for possible adjustments in the short term.

Short-term Contract Strategy:

Long Strategy:

If the price of PNUT breaks through and stabilizes at $1.10, a long position can be considered. It is recommended to use 4x leverage, setting the stop-loss below $1.08, with a profit target set at $1.12. If the breakout is successful, it may bring substantial upward space.

Short Strategy:

If PNUT fails to break through $1.10 and pulls back below $1.08, a short position can be considered. At this time, 3x leverage can be used, setting the stop-loss above $1.10, with a profit target set near $1.05. If the market experiences a pullback, this strategy can take advantage of downward fluctuations to gain profits.

Summary:

The current price of PNUT is close to $1.09, facing a strong resistance level at $1.10. In the short term, if the price breaks through $1.10, it is expected to continue rising to $1.12; if it fails to break through, it may pull back to $1.08 or lower. Short-term traders should pay attention to these key price points, flexibly use leverage strategies for operations, seize profit opportunities during breakouts or pullbacks, while strictly controlling risks to avoid potential losses from excessive leverage.$PNUT