🚀 $PNUT

/USDT Technical Analysis: A Closer Look at Price Movements 🚀

📊 Current Price: 1.4138 USDT

PNUT/USDT has been making notable moves recently, with a 24-hour drop of about -13.05%, signaling potential opportunities in the market.

🔍 Key Levels to Watch:

Resistance Levels:

🔴 1.6532 USDT (Recent 24h High)

The price has tested this level before but was rejected, making it a strong resistance. A breakout above this level could open doors to the next resistance zone.

Support Levels:

🟢 1.2593 USDT (Recent 24h Low)

This key support level has seen a few bounces. If it holds, we might see a short-term reversal back towards the resistance zone. However, a break below this could indicate further bearish momentum.

🎯 Price Targets: 1️⃣ First Target: 1.50 USDT

If the bulls can break above 1.41, 1.50 could be the next target as a psychological resistance level, before testing 1.6532.

2️⃣ Second Target: 1.60 USDT

If bullish momentum continues, we might see PNUT approaching 1.60, where further resistance may emerge.

3️⃣ Third Target: 1.70 USDT

The next significant resistance is at 1.70, a level where the trend could reverse again, but a successful break above this would mark a strong bullish continuation.

🔔 Trade Strategy:

Short-Term: Watch for price action near 1.2593. If the support holds, consider entering long positions towards 1.50.

Breakout Play: If the price breaks through 1.6532, the next resistance targets will likely be 1.60 and 1.70.

Risk Management: Keep stop losses just below the support levels to minimize risk.

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