$PNUT /USDT Technical Analysis: Preparing for Reversal?

The $PNUT /USDT pair has been in a downtrend, witnessing a significant drop of -8.01% today and -37.69% in the past 30 days, currently trading near $1.0687.

With price action showing signs of a potential bounce near support levels, traders should closely watch for a reversal signal.

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Trading Signal: PNUT/USDT

Entry Zone: $1.0600 - $1.0700

Targets:

1. $1.1000 (Key short-term resistance)

2. $1.1300 (First major resistance level)

3. $1.1600 (Upper breakout target)

Stop Loss: Below $1.0500

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Market Insight

The 30-minute chart shows sellers losing momentum as PNUT tests the support range around $1.0600 - $1.0700.

If buying volume increases, a reversal could aim for the $1.1000 mark, followed by further gains toward $1.1300 and $1.1600.

Manage risk carefully with a stop loss to limit downside exposure.

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