Market Alert: $PNUT Faces Long Liquidation – Opportunity or Breakdown?
The market just witnessed a $1.5992K long liquidation on $PNUT at $0.2941, shaking out leveraged positions and creating a window of volatility-fueled opportunity.
Technical Analysis & Trade Setup
Current Price Reaction:
Liquidation at $0.2941 triggered a flush, but this level sits near key historical support. If price holds above this zone, a bounce is highly possible. If it breaks down further, expect a deeper correction.
Buy Zone:
$0.2780 – $0.2890
This range aligns with demand zones from previous accumulation and could act as a springboard if bulls step in post-liquidation.
Targets:
Target 1: $0.3150 – Minor resistance and first sign of bullish recovery
Target 2: $0.3370 – Break above this confirms bullish continuation
Target 3: $0.3680 – High-probability exit zone if momentum sustains
Stop Loss:
$0.2680
A break below this invalidates the bounce thesis and could lead to extended downside.
Summary:
With longs wiped out at $0.2941, the market has reset. $PNUT is now in a technical pivot zone. A smart entry around $0.28–$0.29 could offer strong upside potential with risk controlled by a firm stop below $0.2680. Watch volume and price action closely — the next move will define the trend.