PNUT/USDT IS ON FIRE 🔥 🔥 🔥 #PNUTSurge
### Analysis
1. **Current Price**: 2.1818 USDT, with significant recent growth of about 137.90%.
2. **Moving Averages**:
- **MA(7)**: 2.1513 (yellow line), showing short-term bullish momentum as the price is above this moving average.
- **MA(25)**: 1.7691 (pink line), showing medium-term support.
3. **MACD**: The MACD is close to the zero line with a slight bearish crossover, indicating possible consolidation or a minor correction.
4. **Volume**: Decreasing volume after the recent high, which suggests a possible pause in bullish momentum.
Suggested Trading Strategy
Long Position
- **Entry**: Look for a pullback to around 2.10 - 2.15 USDT, which aligns with MA(7) support.
- **Take Profit (TP)**: 2.50 USDT, as it was the recent high and could act as resistance.
- **Stop Loss (SL)**: 1.80 USDT, just below MA(25) to avoid larger losses if the trend reverses.
- **Trade Duration**: Short-term, likely 1-2 days. Monitor closely as momentum can change quickly.
Short Position
- Entry**: If the price fails to break above 2.30 USDT (if it hits resistance and shows signs of bearish candles), enter around 2.20 - 2.25 USDT.
- Take Profit (TP)**: 1.90 USDT, targeting support near MA(25).
- **Stop Loss (SL)**: 2.35 USDT, above resistance.
-*Trade Duration**: Short-term, likely 1-2 days, depending on momentum.
Contingency Planning (Plans A, B, C, D)
- Plan A**: If the price reaches TP, consider taking partial profits and adjust SL to break-even or higher to secure gains.
- **Plan B**: If SL is hit, close the position and avoid re-entry until a clear trend is established.
*Plan C*: If the price remains between 2.10 - 2.30 for an extended period (consolidation), reduce position size or close the trade to avoid potential range-bound risks.
- **Plan D**: For long positions, if the price starts to close below MA(25) on the 1-hour chart, it may signal a bearish reversal. For short positions, #BTCBreaks93k #TrumpNominatesMuskDOGE #USInflationAboveTarget $PNUT
