$PNUT with a 4-hour time frame. Here are some points to analyze:

1. Support and Resistance:

The lower blue area appears to be a support zone, meaning that the price was previously stuck in that area and is likely to bounce up.

The upper blue area is a resistance zone, which could be a potential target for an upward price if the price manages to bounce off the support.

2. Risk and Reward:

Stop loss is set at around $0.35, while the profit target is at $1.50, with entry around $0.445.

3. Trend Condition:

Price is seen in a sharp downtrend after reaching resistance in the upper blue zone.

This pattern often indicates the need for further confirmation, whether the price will continue to decline or bounce off the existing support.

4. Potential Strategy:

If you enter a buy (long) position at this level, please pay close attention to the support area. If this support fails to hold the price, a stop loss is important to avoid greater losses.

Important: If price bounces off support, the first logical target is the immediate resistance around $1.10, before reaching the main target at $1.50.

do your own research before trading!!!