$PNUT (PNUT) Technical Analysis
Current Price: $1.1749
24h High: $1.4563
24h Low: $1.1550
24h Vol(PNUT): 387.10M
24h Vol(USDT): 496.61M
Market Outlook:
The Pnut chart shows a bearish trend with a potential downward movement. The price has broken below the support level of $1.2000, indicating a strong bearish momentum.
Trade Strategy:
Long Trade:
* Entry: $1.2000 (Previous Support)
* Target: $1.3000
* Stop Loss: $1.1000
* Leverage: 2x
Short Trade:
* Entry: $1.1749 (Current Price)
* Target: $1.0000
* Stop Loss: $1.2500
* Leverage: 2x
Conclusion:
Pnut is currently in a bearish trend, and the price is likely to continue its downward movement. Short positions are recommended with a target of $1.0000 and a stop loss of $1.2500. However, traders should be cautious as the market is volatile, and the price could reverse direction.