$PNUT
/USDT Technical Analysis and Trade Strategy🚀🎯
Price: 1.3360 (+4.46% in the last 24h)
24h High: 1.3566
24h Low: 1.1892
Key Technical Indicators:
Bollinger Bands (20, 2):
Upper Band: 1.3295 (near current price)
Middle Band: 1.2831
Lower Band: 1.2368
SAR (Stop and Reverse): 1.2780
MACD: Bullish crossover, indicating upward momentum.
Moving Averages: Indicating short-term bullish momentum.
Trade Strategy:
1. Entry Point
Ideal Entry: 1.30 – 1.32 (slightly below the current price to catch any potential pullbacks towards the middle of the Bollinger Bands
Rationale: The price may retrace slightly before continuing upwards. A move towards 1.28-1.30 is possible, as it aligns with the SAR level and the middle Bollinger Band.
2. Target Levels 🎯:
Target 1: 1.35
Reason: The 24-hour high is at 1.3566, suggesting a potential resistance point. This level is aligned with the upper Bollinger Band, which often acts as a target in bullish trends.
Action: Monitor price action around 1.35 for signs of resistance. If price breaks above 1.35, consider holding for further gains.
Target 2: 1.38 – 1.40
Reason: A psychological resistance level, driven by the momentum of the trend. If the price clears 1.35 and holds above it, expect the next resistance near 1.38 – 1.40.
Action: At this point, consider scaling out of the position if in profit or adjust stop loss to break even.
Target 3: 1.45
Reason: Further upside potential if the momentum continues. This target is a speculative level, assuming sustained bullish momentum and breaking through previous resistance zones.
Action: Monitor for signs of exhaustion or reversal as price nears this level.
3. Stop-Loss Strategy:
Initial Stop-Loss: Set just below the SAR level at 1.2780 or the middle Bollinger Band at 1.2831.
Summary:
Buy Zone: 1.30 – 1.32 (slightly below current price).
Target 1: 1.35
Target 2: 1.38 – 1.40
Target 3: 1.45
Stop-Loss: 1.2780 (SAR level), or 1.2831 (middle Bollinger Band).