Binance Technical Analysis: $PNUT /USDT
Current Price: $0.7418 (+22.81%)
Timeframe: 30m chart
Analysis Overview:
$PNUT /USDT has experienced a significant rally, surging over 22% today. The strong upward movement signals bullish momentum, with clear resistance levels to monitor for potential profit-taking or further upside opportunities.
Targets
1. Immediate Resistance (Target 1): $0.7600
A key short-term resistance level tested during the recent rally.
Breaking above this level will confirm continued bullish sentiment.
2. Mid-Term Resistance (Target 2): $0.7800
A critical level near the 24h high.
Sustained movement above this can lead to further upside.
3. Extended Bullish Target (Target 3): $0.8000
A psychological resistance level.
Achieving this target confirms a strong breakout and bullish momentum.
Risk Management
Support Level: $0.7200
A critical support zone to monitor for pullbacks.
Failure to hold this could indicate a potential reversal.
Stop-Loss Suggestion: $0.7100 to minimize downside risk.
Trading Insights:
Short-Term Opportunity: Look for a breakout above $0.7600 to target $0.7800.
Long-Term Opportunity: Sustained trading above $0.7800 opens the door for $0.8000.
Advice: Secure partial profits at $0.7600 and adjust stop-loss to $0.7300 to protect gains while minimizing risks.