$PNUT Short Liquidation: $332K at $1.800
A massive $332,000 short position just got liquidated at $1.800, signaling intense bullish pressure in the PNUT market.
This liquidation highlights strong buyer dominance and a pivotal level around $1.80.
Next Move for $PNUT
1. Bullish Outlook:
With shorts forced out, momentum could push PNUT toward resistance at $1.85–$1.90. Sustained buying might even target $2.00.
2. Risk of Retracement:
After such a significant squeeze, profit-taking could cause a pullback to $1.75 or even $1.70.
Recommendation:
Keep an eye on volume and price action around $1.80. If PNUT holds above this level, it’s a strong bullish signal. Consider small entries on dips or wait for confirmation of a breakout beyond $1.85.
Stay vigilant—volatility is high!
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