$PNUT /USDT Technical Analysis and Trade Signals
Current Market Overview:
Price: $1.15 (up 1.88% in the last 24 hours)
24h High: $1.1533
24h Low: $1.1242
Volume (PNUT): 203.89M
Volume (USDT): 246.22M
Price Momentum: The price has experienced a downtrend across 15m, 1h, 4h, and 1D intervals, but the current 24h movement is slightly bullish, showing positive growth (+1.88%).
Technical Indicators:
1. RSI (Relative Strength Index): 45 (Neutral to Slightly Bearish) – The asset is not overbought, and there is still potential for upward movement or further consolidation.
2. MACD (Moving Average Convergence Divergence): Bearish crossover with slight upward momentum. The MACD line is above the signal line, indicating potential for bullish movement.
3. Support and Resistance Levels:
Support: $1.12 (24h Low)
Resistance: $1.16 (recent local highs)
Trade Signals & Strategy:
1. Bullish Scenario (Momentum: Positive Reversal):
Entry Point: Around $1.13 – $1.15
First Target (T1): $1.17 (Resistance area)
Second Target (T2): $1.20 (Further resistance zone)
Third Target (T3): $1.25 (Key psychological level and a strong resistance point)
Stop-Loss: $1.12 (just below recent support to manage risk)
2. Bearish Scenario (Momentum: Continuation of Downtrend):
Entry Point: Below $1.12 (if price fails to maintain above support)
First Target (T1): $1.08 (Next support level)
Second Target (T2): $1.05 (Further downside potential)
Third Target (T3): $1.00 (Key psychological support)
Stop-Loss: $1.16 (above resistance to limit potential losses)
Trade Momentum:
Current Sentiment: The market is showing signs of consolidation after recent price corrections. Watch for a breakout above $1.16 for a more confirmed bullish trend.
Volume Analysis: The trading volume of PNUT and USDT has been relatively strong, indicating healthy market participation and suggesting that the market could be gearing up for a breakout
Conclusion:
If price stays above $1.12 and breaks resistance at $1.16, expect an upward movement targeting $1.20 or higher.
