#pnut Update
Technical Analysis of PNUTUSDT
Current Price: 1.02751
Change from Previous Day: -3.88%
Indicators:
Moving Average Convergence Divergence (MACD): The MACD line is below the signal line, indicating a bearish trend.
Relative Strength Index (RSI): The RSI is below 50, indicating oversold conditions.
Moving Averages (MA): The 7-day MA is above the 25-day MA and the 99-day MA, indicating a short-term bearish trend.
Support and Resistance:
Support: 1.01541
Resistance: 1.14799
Conclusion:
The technical indicators suggest that PNUTUSDT is currently in a bearish trend. The price is below all major moving averages, and the RSI is oversold. The current support level is at 1.01541, and the resistance level is at 1.14799.
Trading Strategy:
Short-term: Traders may consider shorting PNUTUSDT with a stop-loss order placed above the 1.14799 resistance level.
Long-term: Long-term investors may want to wait for the price to break through the 1.14799 resistance level before entering a long position.
Disclaimer: This is not financial advice. Trading cryptocurrencies carries a high level of risk, and it is important to do your own research before making any investment decisions.
