Today let's analyze Squirrel PNUT
At this time, pnut announced it was listed on Cb, which can be seen as injecting some confidence into the market. However, the price of the coin has not fluctuated much because the market is still in a period of low sentiment, and the degree of recovery for the coin is insufficient. Even if there is a short-term upward trend, it will still fall back. Speaking of this coin's performance, after being listed on Binance, it experienced a significant price increase in a short period, and the trading volume was very high. During this downward phase, it has been in a state of slow decline, and currently, the price has dropped about 80% from its peak. Due to the high initial enthusiasm, there were definitely many people buying the dip during the downward trend.
From the chart, three trading range areas have formed: 1.6-1.9 / 1-1.2 / 0.6-0.8. Currently, based on indicators and adjustment patterns, it has broken through the resistance of the downtrend line, and daily indicators have shown a divergence with a continued golden cross. The drop yesterday was even a deliberate false breakout of a new low. The adjustment range from the peak is basically sufficient, and at present, it is more likely to build a fluctuating accumulation zone below 0.8 for consolidation and recovery. Only after fully completing the chip turnover can it break out into an upward trend again.
All holders can be patient and wait. The resistance levels in the subsequent upward movement can be pushed up sequentially based on the positions of the chip turnover areas during the downward trend!
