🚨 PNUT/USDT Technical Analysis – Bearish Pressure Continues! 🚨
PNUT is currently trading at $1.5889, down 10.78% in the last 24 hours. The price is below all key moving averages (MA7, MA25, MA99), signaling a strong bearish trend across short, medium, and long-term perspectives.
🔑 Support & Resistance Levels:
Key Support: $1.5635 (24h low) – A critical level where buyers could step in.
Immediate Resistance: $1.6591 (MA7), with further resistance at $1.7665 (MA25).
📈 Trading Strategy:
Short Sellers: Watch for a breakdown below $1.5635 for a potential short opportunity.
Bullish Reversal: Enter cautiously above $1.66 if price reclaims MA7, targeting $1.70 and beyond.
🎯 Pro Tip: Use tight stop-losses to manage risk, and stay alert for a volume spike to confirm any trend reversal!
What’s your strategy for PNUT? 🚀📉