/USDT Potential for Rebound After Significant DropšÆš„šÆ
The summary of PNUT/USDT trading data:
Current Price: $0.6835
Price Change (24h): -18.50%
24h High: $0.8405
24h Low: $0.6377
24h Volume (PNUT): 368.04M PNUT
24h Volume (USDT): 276.23M USDT
Current Timeframe: 30m (Up by 1.62%)
Key Levels:
Support (Potential Entry Zone): $0.640 - $0.650 (near 24h low and support zone)
Resistance (Potential Exit Zone): $0.830 - $0.840 (near 24h high and resistance zone)
Entry Strategy:
Long Entry: Consider entering a long position if the price holds above $0.650 and shows signs of recovery. A confirmation of an upward move would be a breakout above $0.680, targeting the $0.800 - $0.830 resistance zone.
Exit Strategy:
Profit Target (Exit): Look to exit around $0.800 - $0.830, where the price is likely to face resistance. If the price continues upward, consider setting a secondary target at $0.840.
Stop-Loss: Place a stop-loss below $0.640 to manage downside risk, ideally around $0.630.
Sentiment:
Bearish Short-Term: The 18.50% drop in the past 24 hours reflects bearish sentiment, likely from profit-taking or market correction.
Bullish Reversal Potential: The 1.62% gain in the 30-minute timeframe could signal a potential short-term rebound. If the price sustains above $0.650, a recovery toward resistance levels is likely.
PNUT has seen high volatility, and given the recent price drop, it's important to monitor the market closely for signs of reversal or continuation. Adjust your strategy depending on how the price reacts at key support and resistance levels.
