$PNUT Struggling to Maintain Support

Price: $1.2583 (-7.92%)

24H High: $1.5399

24H Low: $1.2154

Analysis:

PNUT is facing significant selling pressure as it retraces to test the $1.2154 low from earlier today. With the current price sitting below the MA(25) at $1.3308 and the MA(99) at $1.5231, the bearish momentum is evident.

Observations:

• Resistance Levels: $1.33 and $1.52 (key moving averages).

• Support Zone: $1.21 (critical psychological level).

• Volume is decreasing, suggesting a possible slowdown in selling intensity but no clear signs of reversal yet.

Strategy:

A strong bounce from $1.21 could signal a potential recovery, while a breakdown risks further downside. Watch for volume spikes and candlestick patterns for confirmation of the next move.

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