🚨Technical Analysis Report: The $PNUT /USDT pair is showing bearish momentum, 🚨

The price down by -8.72% in the last 24 hours, currently trading at 1.3369 USDT.

After reaching the 24-hour high of 1.5399 USDT, the coin has faced a sharp decline, breaking below key support zones.

The chart highlights a pullback from an earlier upward spike, followed by a consolidation phase near current levels.

Indicators & Key Levels:

Resistance Levels (Yellow):

1st Resistance: 1.3777 USDT

2nd Resistance: 1.4647 USDT

Major Resistance: 1.5399 USDT (recent high)

Support Levels (Green):

1st Support: 1.3171 USDT (current volume-weighted average)

2nd Support: 1.2906 USDT

Critical Support: 1.2593 USDT (24-hour low)

Bearish Signals (Red):

The RSI (Relative Strength Index) is at 39, indicating bearish momentum and approaching oversold territory.

The recent downtrend broke below short-term moving averages, further confirming selling pressure.

Trade Signals:

Short Trade Signal:

Entry: Below 1.3350 USDT

Stop Loss: 1.3500 USDT

Take-Profit Targets:

Target 1: 1.3171 USDT

Target 2: 1.2906 USDT

Target 3: 1.2593 USDT

Long Trade Signal:

Entry: Above 1.3400 USDT (with bullish confirmation)

Stop Loss: 1.3200 USDT

Take-Profit Targets:

Target 1: 1.3777 USDT

Target 2: 1.4647 USDT

Target 3: 1.5399 USDT

Cautionary Note:

Traders should closely monitor the 1.3171 USDT support for signs of stability or further breakdown. A sustained move below this level could trigger additional bearish momentum.

Conversely, watch for a breakout above 1.3400 USDT with increasing volume for potential recovery.

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