PNUT Status
PNUT has recently experienced a sharp decline, with the current price at $1.0634, down 2.61% for the day. It previously found support and rebounded at $0.9533. The current price is attempting to break through short-term moving average resistance, with increased trading volume and intense competition between buyers and sellers.
Technical Indicators
RSI has risen to 38, indicating initial signs of a rebound, but MACD remains in negative territory, suggesting that short-term price fluctuations are still significant.
Long Strategy
Entry point can be considered at $1.05, and if the price drops to $1 or $0.95, additional positions can be added. The stop-loss is set at $0.92, with take-profit levels at $1.1, $1.15, and $1.3. The initial position size is 30%, gradually increasing to full position.
Short Strategy
A short position can be taken when the price rises to $1.1, with the possibility of adding positions if it reaches $1.15 or $1.3. The stop-loss is set at $1.35, with take-profit levels at $1.05, $1, and $0.95. The initial position size is 20%, gradually increasing to full position.
If the resistance level of $1.1 is broken, the rebound momentum will strengthen, potentially pushing the price to higher levels; if the support level of $1 is lost, it may decline again to $0.95 or lower.
