$PNUT
๐ Trend Analysis
Current Price: 0.22249 USDT
24H Drop: -8.02%
Recent High: 0.24752 โ Strong rejection zone
Recent Low: 0.22143 โ Tested but not broken yet
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๐ Moving Averages
Short EMAs (7, 15, 25): All sloping downward โ Bearish momentum
EMA(99): 0.23559 โ Currently acting as dynamic resistance
Price below all EMAs: Confirms short-term downtrend
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๐ก MACD Indicator
MACD Line: Below signal line and zero โ Bearish crossover
Histogram: Negative and flat โ Weak bearish momentum
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๐ Volume
Volume spike on 16 June during sharp drop
Decreasing volume afterward โ Sellers losing strength?
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๐ Support & Resistance
Immediate Support: 0.22143 โ If broken, next zone likely ~0.215โ0.218
Resistance Levels: 0.2258 โ 0.2316 โ 0.2373
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โ๏ธ Trade Setup Idea
๐ Bearish Setup:
Entry: On breakdown below 0.2214 with volume confirmation
Target 1: 0.2180
Target 2: 0.2140
Stop Loss: 0.2260 (above EMA7)
๐ Bullish Reversal Setup (If price holds 0.2214):
Entry: Break above 0.2258 with strong green candle
Target: 0.2310
Stop Loss: 0.2200
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๐ง Strategy Note:
Wait for confirmation. Current setup favors shorts, but consolidation or bounce around the support is likely. Trade with caution.
