๐ PNUT/USDT Price Analysis: Is the Bullish Momentum Here to Stay?
The PNUT/USDT pair is showing strong signs of bullish momentum, currently trading at $1.8341, up by 9.41% in the last 24 hours. With a 24-hour high of $2.2041 and a low of $1.5300, the market is heating up for potential big moves. ๐
Key support lies at $1.5300, where buyers previously stepped in aggressively, while $2.2041 serves as a crucial resistance level. A breakout above this resistance could signal a fresh rally. Moving averages are aligned bullishly, with the price holding above the MA(7) at $1.7836, hinting at upward momentum.
For traders:
Look for entries near $1.78, aligning with the MA(7) for optimal risk-reward.
Set a stop-loss below $1.53 to manage downside risk.
Watch for a volume-backed breakout above $2.20 for confirmation of further gains.
This consolidation phase is ripe for opportunity, so stay alert for the next moveโwhether itโs a breakout or retest. Smart entries and tight risk management are key to capitalizing on this setup. ๐ฅ