Looking at the chart, PNUT/USDT seems to be consolidating near the $1.46 support zone after a sharp decline from the $1.87 high. The RSI (Relative Strength Index) is around 30.37, indicating oversold conditions, which could suggest a possible rebound if buying momentum kicks in.
### Potential Next Moves:
1. Bounce from Support: If $1.46 holds as support, the price could see a relief rally, potentially testing resistance levels around $1.60–$1.70.
2. Breakdown: If $1.46 fails as support, the price could drop further toward the next major support near $1.20 or lower.
Monitor:
- Volume: Watch for increased buying volume to confirm a potential bounce.
- RSI Divergence: Positive divergence on RSI could signal a reversal.
