$PNUT Liquidation Update: What's Next?

Recently, $5.4165K worth of $PNUT was liquidated at $0.68555. This sharp move signals volatility in the market. So, let’s break down what might happen next and how you can position yourself smartly.

What’s Happening?

The liquidation suggests sellers were strong at higher levels, pushing the price down.

Now, traders are watching closely for signs of a reversal or further drops.

Key Levels to Watch

1. Buy Zone:

If the price retraces further, consider entering around $0.640 - $0.650. This area is a strong support zone, where buyers are likely to step in.

2. Target Levels:

Short-Term Target: $0.700

Mid-Term Target: $0.740

These levels have shown previous resistance and are likely profit-taking zones for buyers.

3. Stop Loss:

Keep a tight stop loss at $0.620 to protect your capital if the price breaks below key support.

Strategy to Follow

Conservative Traders: Wait for confirmation of support before entering a position. Look for volume spikes or bullish candlesticks around the buy zone.

Aggressive Traders: If the price bounces from $0.640, enter quickly and aim for the first target ($0.700).

Final Thoughts

$PNUT s current dip could be an opportunity if the support holds. However, always trade with a plan, as crypto markets are unpredictable. Monitor the price action closely, and stick to your stop-loss levels!

Stay sharp, and trade safe!

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