$PNUT Liquidated Short:
$64.5K at $1.116
In an unexpected turn, the #PNUT market saw a significant short liquidation of $64.5K at the $1.116 level,
signaling a powerful reversal.
The surge has caught many off guard, pushing prices higher as short sellers are forced to exit.
Market Analysis:
The liquidation marks a shift in momentum, suggesting growing bullish pressure.
With shorts clearing out, the market could experience further upward momentum as more traders shift to a long bias.
Key resistance levels lie ahead, but the strong liquidation could propel $PNUT higher if buying interest accelerates.
Next Move:
Watch for a potential breakout above $1.116. If the price continues to climb, it could challenge the next resistance at $1.20–$1.25.
Traders should keep an eye on volume and momentum for confirmation of a sustained uptrend.
A pullback to retest $1.116 could also present a solid entry for new long positions. Stay agile and ready for any rapid price moves!