$PNUT /USDT Price Analysis: Market Set for Volatility!đŸ”„đŸ’Ż

Current Overview: PNUT/USDT is trading at $0.7059, showing a slight pullback after an impressive intraday rally. The token has gained 15.06%, signaling a strong short-term bullish sentiment but with hints of consolidation at current levels.

Key Levels for Long and Short Trades:

‱ Long Entry: Consider entering long if the price breaks above $0.7500, a resistance level indicating renewed upward momentum. Potential targets could extend to $0.8000 or even $0.8500 in a bullish scenario.

‱ Short Entry: A break below $0.6800 could trigger a short setup, targeting the next support at $0.6500 and potentially $0.6000 if the bearish pressure intensifies.

Market Insight: The chart reflects a recent upward price channel, suggesting bullish dominance. However, the pullback signifies profit-taking or minor resistance near $0.7500. Buyers should watch for a breakout above this level, while sellers may exploit a loss of support below $0.6800.

Next Move Prediction: If PNUT/USDT maintains its position above $0.7000, accumulation may lead to a bullish continuation. Conversely, a failure to hold this zone could lead to a bearish correction. Traders are advised to secure profits and adjust stop losses accordingly.

Strategy: With volatility on the rise, focus on confirming breakouts before entering trades. Maintain a balanced approach with partial profit bookings at intermediate levels.

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