๐ Current Market Status:
PNUT appears to be pausing its bullish momentum, after hitting key resistance at 1.2150 USDC. Selling pressure is showing slightly, but supports remain strong, signaling a possible consolidation or bounce in the short term.
๐ Updated Key Points:
1๏ธโฃ Important Supports:
โข 1.1740 USDC ๐ข (immediate support tested several times).
โข 1.1250 USDC ๐ก๏ธ (major support, market pivot).
โข 1.0536 USDC โ ๏ธ (last line of defense in case of fall).
2๏ธโฃ Resistances to Watch Out for:
โข 1.2150 USDC โ ๏ธ (still a critical barrier).
โข 1.2494 USDC โก (new intermediate resistance identified).
โข 1.2867 USDC ๐ (possible target in case of rally).
3๏ธโฃ Technical Indicators:
โข RSI: Pullback from overbought level. Current level around 40-45, signaling a possible recovery or continuation of consolidation.
โข MACD: Slight weakness in bullish momentum, but no clear sell signal yet โ๏ธ.
โข Bollinger Bands: Progressive compression = reduction in future volatility, often announcing an explosive movement.
๐ฎ Possible Scenarios:
โข ๐ Bullish Scenario:
If the price bounces off 1.1740 USDC and breaks 1.2150 USDC again, the next target will be 1.2494 USDC, with a potential extension to 1.2867 USDC ๐.
โข ๐ Bearish Scenario:
A break below 1.1740 USDC could push prices back towards 1.1250 USDC or even test the critical support at 1.0536 USDC โ ๏ธ.
โข ๐ Consolidation :
A period of lateralization between 1.1740 USDC and 1.2150 USDC remains likely in the short term, before a breakout.
๐ก Strategic Council:
โข Active Waiting: Observe reactions around supports and resistances.
โข If you are long, aim for a bounce on 1.1740 or wait for a break above 1.2150 USDC โ .
โข Stop-Loss recommended below 1.1740 to limit risks โ ๏ธ.
๐ Stay tuned for the movements! ๐๐ผ The market is still on alert with volatility that could explode soon. ๐ฆฟ
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