$PNUT /USDT Analysis Bearish Correction in Motion
$PNUT /USDT is trading at $0.6679, experiencing a -6.48% decline, as it continues its pullback after hitting a 24-hour high of $0.7340.
Key Levels to Monitor:
Support Levels:
$0.6572 – Immediate support, holding for short-term recovery attempts.
$0.6400 – A critical level, failure to hold here may lead to further declines.
Resistance Levels:
$0.6900 – First barrier to reclaim bullish sentiment.
$0.7100 – A break above this could renew upward momentum.
🎯 Trade Setup:
For Bulls:
Entry near $0.6572 for a potential bounce.
Targets: $0.6900 and $0.7100.
Stop-loss at $0.6400.
For Bears:
Short positions below $0.6572, targeting $0.6400.
Stop-loss at $0.6700.
Market Insight:
The RSI at 59.71 suggests neutral territory but leans bearish, signaling caution. Volume analysis shows declining buying pressure, indicating bearish sentiment may continue unless key resistance levels are reclaimed. Stay alert for price action at support zones!