Anasta Maverick
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Bearish
$PNUT /USDT Technical Analysis – Oversold Zone, Watch for a Rebound
$PNUT /USDT is trading at 0.4535, showing a steep decline of 14.45% over the last 24 hours. The price hit a 24-hour low of 0.4475, indicating strong bearish pressure, though technical indicators suggest oversold conditions.
Key levels to watch:
Resistance: Immediate resistance is at 0.4870. A breakout above this level could lead to further recovery toward 0.5200.
Support: Key support lies at 0.4475. A breakdown below this level may push the price further down to 0.4200.
Trading strategies:
Long positions: Consider entries near 0.4475 with profit targets at 0.4870 and 0.5200. Use a stop-loss below 0.4200.
Short positions: Watch for rejection near 0.4870. If the price breaks below 0.4475, targets could include 0.4200, with a stop-loss above 0.4870.
Market insights:
The current RSI indicates extremely oversold conditions, suggesting a potential short-term bounce. However, the overall trend remains bearish. Traders should monitor key levels closely for signs of recovery or further decline. Manage risk carefully in this volatile market.
#TRUMPOnBinance
$PNUT /USDT is trading at 0.4535, showing a steep decline of 14.45% over the last 24 hours. The price hit a 24-hour low of 0.4475, indicating strong bearish pressure, though technical indicators suggest oversold conditions.
Key levels to watch:
Resistance: Immediate resistance is at 0.4870. A breakout above this level could lead to further recovery toward 0.5200.
Support: Key support lies at 0.4475. A breakdown below this level may push the price further down to 0.4200.
Trading strategies:
Long positions: Consider entries near 0.4475 with profit targets at 0.4870 and 0.5200. Use a stop-loss below 0.4200.
Short positions: Watch for rejection near 0.4870. If the price breaks below 0.4475, targets could include 0.4200, with a stop-loss above 0.4870.
Market insights:
The current RSI indicates extremely oversold conditions, suggesting a potential short-term bounce. However, the overall trend remains bearish. Traders should monitor key levels closely for signs of recovery or further decline. Manage risk carefully in this volatile market.
#TRUMPOnBinance
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