$PNUT /USDT: Oversold Conditions – Recovery or Further Decline?
$PNUT is trading at $0.5588, marking a steep decline of -8.60%. With a 24-hour high of $0.6470 and a low of $0.5584, the price is teetering at the bottom of its range. Indicators like RSI (18) suggest oversold conditions, hinting at a potential bounce if volume increases.
Key Levels to Watch:
Resistance Levels (Targets):
1. $0.5840
2. $0.6024
3. $0.6300
Support Level: $0.5530
Market Insight:
A recovery above $0.5840 could spark a move toward $0.6024, with strong momentum possibly pushing it to $0.6300. However, if $0.5530 fails to hold, a deeper retracement might occur. Monitor RSI and volume closely for reversal signals.
Pro Tip: For short-term trades, consider tight stop-losses near support to manage risks effectively.