Analysis of $PNUT : The Squirrel has fluctuated down to a low near 0.6 on the daily chart. Here, both the daily and four-hour charts show a bottoming pattern for the first time, with divergence + a second bottom volume reversal. Additionally, there is a converging downward 5-wave structure on the daily chart 📊.
Currently, the price has just rebounded to the resistance of the downward trend line. If it can stabilize above 0.73, it may test the upper level of 0.78 in the short term. The strong resistance above is also the first wave limit rebound position at 1 dollar! Short-term support is at 0.66.
This is worth paying close attention to. Meanwhile, as the leader of the previous round of meme coins, if Squirrel shows a sustained rebound, it is highly likely to drive the overall meme coin market into a rebound trend!
As shown in the figure:
