#pnut
Technical Analysis of PNUT/USDT
Current Situation
The current price of PNUT/USDT is 1.1252 with a 24-hour volume of 426.29M. The price is down 10.37% from its 24-hour high of 1.4169 and 1.132% from its 24-hour low of 1.1000.
Moving Averages
The 7-period moving average (MA) is 1.1485 indicating a downtrend.
The 25-period MA is 1.2037 also indicating a downtrend.
The 99-period MA is 1.2009 indicating a downtrend.
Support and Resistance
Resistance: The price has shown resistance at the 24-hour high of 1.4169.
Support: The price has shown support at the 24-hour low of 1.1000.
Indicators
MACD: The MACD line is currently below the signal line, indicating a bearish signal. The MACD histogram is also negative, indicating a downtrend.
Relative Strength Index (RSI): The RSI is currently at -3.3915%, indicating oversold conditions. This means the price may be due for a rebound.
Volume: The trading volume is high. This indicates strong interest in the asset, potentially indicating a possible breakout or breakdown.
Potential Scenarios
Bearish: The price may continue to decline and break below the support at 1.1000.
Bullish: The RSI is indicating oversold conditions, which could lead to a rebound. If the price breaks above the resistance at 1.4169, a strong bullish rally may occur.
Disclaimer: This technical analysis is for informational purposes only and is not investment advice. Please consult with a financial professional before making any investment decisions.