🚀 $PNUT Breakout Alert – Massive Surge or Fake Pump?
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PNUT/USDT just caught everyone’s attention with a massive price spike, reaching a high of $0.4247! Currently trading at $0.3389, the coin has shown an impressive 8.62% gain. With a 24-hour trading volume of around 647.87M PNUT and USDT volume of 232.86M, there’s undoubtedly a surge in interest. But what’s fueling this rally, and where could it head next?
📊 Market Insight:
Looking at the 1D chart, PNUT recently broke past its resistance level of $0.2380 with a significant green candle, pushing up to the $0.4247 mark. The sudden rise in volume indicates a massive influx of buyers, likely driven by positive sentiment or a fundamental update. However, the subsequent red candle hints at profit-taking, showing that some traders are cautious about sustaining this momentum.
💡 Technical Indicators:
🔸1. Moving Averages:
• MA(7) at $0.2252 indicates short-term bullishness.
• MA(25) at $0.1778 shows the uptrend gaining strength.
• MA(99) at $0.1737 reflects long-term support.
🔸2. RSI Levels:
• RSI(6) at 76.13 and RSI(14) at 73.03 indicate an overbought condition, suggesting that a correction might follow.
🔸3. Volume Analysis:
• The volume spike aligns with the breakout, but declining volume on the red candle may indicate fading buying pressure.
🔮 Future Price Prediction:
Short-term: The current consolidation around $0.3389 could act as a support level. If buying momentum persists, PNUT might retest $0.4247.
Medium-term: If the hype fades and profit-taking continues, PNUT could revisit
Author : @GrurTradeOne
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