๐ฃ๐ก๐จ๐ง ๐ฆ๐๐ข๐ง๐ฆ ๐จ๐ฃ ๐ณ.๐ณ% ๐๐๐ก ๐๐ง ๐๐ฅ๐๐๐ $๐ฌ.๐ฎ๐ฐ๐ฐ๐ฏ ๐ก๐๐ซ๐ง?
PNUT just broke out of a 2-month downtrend and now trades near $0.2371, gaining 7.7% in 24h. Trading volume is exploding, reaching 71% of its market cap โ and traders are now watching $0.2443 as the next key resistance zone.
๐ Quick Stats
Current Price: $0.2371
24h Change: +7.7%
24h Volume: $170.1M (๐ +40%)
Market Cap: $236.7M
Circulating Supply: ~1 Billion PNUT
Volume/Cap Ratio: 71.7% โ High interest zone
๐ Technical Overview (Simplified)
โ Trendline Break Confirmed:
PNUT broke above a descending trendline that had capped prices since May. That signals a shift in momentum.
โ Support at $0.2189:
This was the breakout zone โ now acting as a new support. As long as price stays above it, bulls are in control.
๐ฅ Resistance at $0.2443:
This is the next wall. If PNUT closes above this, we could see a run to $0.26+.
๐ Volume Spike Confirms Strength:
71% of market cap traded = active market, strong hands entering.
โ What Traders Should Watch or Do
๐ธ Bullish Setup:
โ Buy breakout above $0.2443 (watch 4H or daily close)
โ Target: $0.2600 then $0.2750
โ Stop-loss: Below $0.2189
๐ธ Pullback Setup:
โ Watch for bounce near $0.2189โ$0.2200
โ Accumulate only if price stays above this zone
โ Below $0.2189 = invalidation
๐ธ Neutral Play:
โ Stay on sidelines until price confirms above $0.2443
โ Avoid chasing high wick candles without volume
๐ง TL;DR โ In Simple Terms
PNUT just broke its downtrend and is gaining strong momentum with massive volume. Traders are watching $0.2443 โ a breakout here could lead to bigger gains. But a drop below $0.2189 would cancel the bullish setup.