PNUT/USDT presents a compelling bullish setup on the daily timeframe. The price has been consolidating within a strong support zone (green box) and is now approaching two critical breakout levels:
Key Technical Factors:
- Price trading near descending trendline resistance
- 90-day VWAP (red line) acting as dynamic resistance around current levels
- Strong support base established in the $0.15-0.20 range
- RSI showing neutral momentum with room for upside expansion
Bullish Scenario:
A simultaneous break above both the trendline and VWAP-90 would signal a significant shift in momentum. The projected path (purple arrow) targets the upper resistance zone around $0.58-0.65, representing substantial upside potential.
Entry Strategy:
- Conservative: Wait for confirmed breakout above both levels
- Aggressive: Position ahead of breakout with tight risk management
Risk Factors:
Failure to break these levels could result in continued consolidation or retest of support. The setup requires patience as both technical barriers must be cleared convincingly for the bullish thesis to materialize.