PNUT/USDT Technical Analysis - Binance
🚀 PNUT/USDT Price Overview 🚀
Current Price: $0.6962
24h High: $0.7300
24h Low: $0.5852
24h Change: +11.50%
📊 Technical Analysis 📊
/USDT has been gaining momentum, showing a +11.50% increase in the last 24 hours. After experiencing a strong bullish push, it is currently holding at $0.6962, just below the key resistance at $0.7300. Let's dive into the technical indicators and set our focus on three key price targets for this trading pair.
🎯 Target 1: $0.7200 (Resistance Level)
PNUT is currently testing the resistance at $0.7200. If it can break through this level, we may see a potential continuation to the $0.7300 high. A confirmed breakout above this resistance could trigger further upward momentum and bring PNUT to new highs.
🎯 Target 2: $0.6800 (Support Level)
On the downside, $0.6800 acts as a strong support level. If PNUT retraces, we expect this level to hold as the market seeks consolidation before deciding its next move. A bounce from this level could provide a great buying opportunity for traders looking to enter before the next move up.
🎯 Target 3: $0.6000 (Secondary Support)
In case of a deeper correction, the secondary support lies at $0.6000. This level is crucial for maintaining the bullish trend. If the price dips below this, we may see further retracement towards the $0.5852 low, but as long as it holds above this support, the long-term outlook remains positive.
🔍 Key Indicators:
RSI: The Relative Strength Index (RSI) indicates that PNUT is in neutral territory, not yet overbought or oversold, leaving room for further price action in both directions.
Volume: With strong volume of 226.86M PNUT traded in the last 24 hours, the market sentiment is favorable for price continuation.
📈 Summary:
PNUT/USDT is currently showing strong bullish
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