Based on the provided chart for the $PNUT /USDT trading pair on Binance (30-minute timeframe):
The price is currently trading at $0.7061, having shown significant upward momentum (+13.08% in 24 hours). The key levels to consider are:
1. Entry for Long Position:
If the price breaks above the 24h high of $0.7300 with strong volume, consider a long position. Set your stop loss at $0.6850 to minimize risk. Target levels for this trade could be $0.7500 and $0.7800, depending on momentum.
2. Entry for Short Position:
If the price drops below $0.6850, it may indicate a bearish reversal. In this case, short positions could be initiated with a stop loss at $0.7100. Targets for the downside could be $0.6500 and $0.6200.
3. Neutral Position:
If the price consolidates between $0.6850 and $0.7300, it might indicate indecision in the market. Avoid taking trades until a clear breakout or breakdown occurs.
Monitor trading volume and market sentiment closely, as this will provide confirmation for either entry. Always ensure proper risk management by not risking more than 2-3% of your capital per trade.
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