#Pnut

1. General Context

• Previous Trend: The crypto was in a bearish movement, but recently tested a support and seems to be attempting a recovery.

• Volume and Indicators:

• The price is above a support around 0.7554 and seems to be gaining strength for a possible upward movement.

• The formation of a reversal pattern is evident with increasing volume, which may signal an attempt to break the resistance.

2. Areas of Interest

1. Identified Supports:

• 0.7198: Main support. If the price returns to this region, it may be a good zone for long entries with short stops.

• 0.7554: Most recent support. If held, it suggests continuation of the rise.

2. Important Resistances:

• 0.9389: First significant resistance. The price may encounter rejection in this region. • 1.0192: Secondary resistance, above which the market may become more bullish.

• 1.2456: Higher resistance, potential target if the trend continues strong.

3. Possible Strategies

For Long (Buy):

• Entry: If the price returns to the support at 0.7554 and shows buying strength (patterns such as hammer or green candles with increasing volume).

• Targets:

• Target 1: 0.9389

• Target 2: 1.0192

• Target 3: 1.2456

• Stop-loss: Below 0.7198 to limit losses.

For Short (Sell):

• Entry: If the price fails to break 0.9389 and shows reversal patterns (such as bearish engulfing or doji followed by red candle). • Targets:

• Target 1: 0.7554

• Target 2: 0.7198

• Stop-loss: Above 0.9389 to avoid losses.

4. Additional Observations

• Breakout confirmation: Wait for candles closing above 0.9389 to validate the continuation of the rally.

• Risk management: Consider maintaining a risk/reward ratio of 1:2 or higher, protecting your profits as the price moves.

• Volume: Watch for increases in volume to validate the direction.