$PNUT $PNUT

PNUT/USD Technical Analysis & Trading Strategy

PNUT/USD is currently trading at 1.6175, presenting a key opportunity as the market navigates a tight range. Traders should focus on the crucial support and resistance levels that could drive the next move.

Support is established at 1.5800, where price action has found stability in recent sessions. A firm hold above this level could signal a potential bounce. On the resistance side, 1.6500 is the key level to watch. A breakout above this could open the path for bullish momentum, with the next target near 1.7000.

Entry Strategy: For a bullish setup, consider entering near 1.5800 with a stop loss below 1.5600, targeting the 1.6500 resistance level. Alternatively, wait for a break above 1.6500 to confirm strength, aiming for a move toward 1.7000 and beyond.

PNUT/USD at 1.6175 offers a balanced risk-to-reward opportunity with well-defined zones. Stay alert for key price action around these levels to position yourself effectively for potential gains in the coming sessions.

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