Short Trade Signal: $PNUT /USDT (30m Chart)
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1. Entry Zone: $0.6920 - $0.6950
2. Stop Loss (SL): $0.7050
3. Take Profit 1 (TP1): $0.6800
4. Take Profit 2 (TP2): $0.6700
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Technical Overview
The price is moving within a well-defined descending channel, suggesting sustained bearish momentum.
Resistance: The immediate resistance is at the upper trendline near $0.6950, making it a favorable entry zone for a short position.
Breakdown Potential: A break below $0.6900 may accelerate the decline toward the key support zone at $0.6700.
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Risk Management
Stop Loss: Maintain a tight SL at $0.7050 to limit upside risk if the trend reverses.
Profit Booking: Consider partial profit at TP1 ($0.6800) to lock in gains, while trailing the remainder toward TP2 ($0.6700) for extended targets.
Stay cautious and monitor for volatility around the entry zone!