$PNUT

/USDT Technical Analysis and Trade Signals 🚀 🎯

Current Price: 1.0830 USDT

24h High: 1.2380 USDT

24h Low: 1.0289 USDT

Bollinger Bands (20, 2):

Upper Band (UP): 1.1542

Middle Band (MB): 1.1071

Lower Band (DN): 1.0601

Parabolic SAR: 1.1240 (indicating a slight bearish bias as it's above the current price)

24h Volume: 345.75M PNUT / 393.37M USDT (decent volume, but more on the sell side)

Price Action: Recent price has dropped from the 1.2380 high to near 1.0830, showing a significant retracement.

Trade Signal & Target Levels

1. Bearish Scenario (if price continues downward):

Entry: Short at 1.0830

Target 1 (T1): 1.0601 (lower Bollinger Band, immediate support)

Target 2 (T2): 1.0289 (24h low, potential strong support)

Target 3 (T3): 1.0000 (psychological support, if bearish momentum accelerates)

Stop-Loss: Above 1.1240 (SAR level)

2. Bullish Scenario (if price reverses upwards):

Entry: Long at 1.0830 (or on a retrace towards support at 1.0601)

Target 1 (T1): 1.1071 (middle Bollinger Band, first resistance)

Target 2 (T2): 1.1542 (upper Bollinger Band, stronger resistance)

Target 3 (T3): 1.2000 (psychological resistance)

Stop-Loss: Below 1.0601 (Bollinger lower band support)

Trade Momentum

The current momentum appears bearish, as the price is below the middle Bollinger Band and the Parabolic SAR is higher than the current price.

The price is showing a retracement from the 1.2380 high and is testing the lower range of recent support at 1.0601.

The volume is still higher on the sell side, indicating potential continued downward pressure.

The key level to watch is 1.0601 for a potential reversal. If the price breaks below this, expect further downside momentum.

If the price moves above the 1.1071 middle Bollinger Band and SAR at 1.1240, it could signal a potential reversal to the upside.

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