$PNUT /USDT Price Analysis: Market Set for Volatility!đ„đŻ
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:
âą 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.
âą 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.