$PNUT /USDT: Bearish Momentum Persists – Testing Support Levels
PNUT/USDT is trading at $1.1521, marking a 5.22% decline over the last 24 hours. The price is under pressure, moving closer to critical support levels, with traders monitoring for a potential reversal or further breakdown.
Key Data Points:
24h High: $1.4169
24h Low: $1.0812
24h Volume (PNUT): 426.06M
24h Volume (USDT): $521.17M
Trade Strategy:
Long Position: Enter above $1.2000, targeting $1.3000 and $1.4000. Set a stop loss at $1.1000.
Short Position: Enter below $1.0800, aiming for $1.0200 and $1.0000. Set a stop loss at $1.1500.
Market Outlook:
PNUT/USDT faces immediate resistance near $1.2000. A successful breakout could signal recovery toward $1.3000. Conversely, a failure to hold above $1.0800 might lead to further bearish momentum, targeting support at $1.0000. Traders are advised to monitor volume and volatility for clearer entry signals.