$PNUT

4hr time frame analysis 🚀

1️⃣ Initial Pump 🚀

•Observation: The price spiked from $0.1047 to a high of $2.5 in a massive rally.

•Analysis: This parabolic move was likely driven by news, hype, or low liquidity causing volatility.

•Warning: Such sharp movements are usually unsustainable and lead to corrections.

2️⃣ Sharp Correction 🔻

•Observation: After hitting $2.5, the price retraced sharply.

•Analysis: This behavior suggests early investors or whales took profits, causing panic among late buyers.

•Support Area: The correction seems to have stabilized near $1.74 for a while before dropping further.

3️⃣ Sideways Consolidation 🔄

•Observation: The price shows a prolonged sideways trend with lower highs and lower lows.

•Analysis: This indicates buyer exhaustion and seller control in the market, possibly waiting for new catalysts.

•Volume: Declining volume likely reflects diminishing interest.

4️⃣ Current Price Action 🔥

•Observation: The price is now trading near $0.76, showing a slight bounce from recent lows.

•Indicators:

•RSI: Oversold conditions could indicate a possible rebound.

•Support Zone: Around $0.60, which was tested recently.

•Action Plan:

•Bullish Breakout: If the price breaks above $0.88, it could test $1.74 resistance again.

•Bearish Risk: A failure to hold $0.60 could push the price toward $0.50 or lower.

5️⃣ Key Levels to Watch 👀

•Resistance: $0.88 (short-term) and $1.74 (mid-term).

•Support: $0.60 (critical) and $0.50 (historical).

6️⃣ Final Thoughts 🤔

•Bullish Scenario: A break above $0.88 with volume could trigger a recovery rally.

•Bearish Scenario: A breach below $0.60 may signal further downside.

•Trading Tip: Wait for confirmation before entering long or short positions.