Updated analysis for currency $PNUT
– Price: 0.34347
Current trend: Attempting to stabilize after a long downward wave
Nearby support level: 0.310
Nearby resistance level: 0.370
Next strong resistance level: 0.420
RSI: Heading towards the recovery zone (above 50), indicating improved momentum
MACD: Bullish crossover signal on smaller timeframes (1 hour – 4 hours)
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Expected scenario:
If the price manages to break through 0.370 firmly with good trading volume, we may see an extension towards 0.42
On the other hand, a break below 0.310 could lead to a drop towards 0.28 or lower
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Proposed strategy:
Speculative buy: between 0.330 – 0.340 (in small quantities)
Stop loss: below 0.310
Potential targets: 0.370 then 0.420
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