Bearish Momentum Looms Over $PNUT /USDT – A Critical Moment 📉🔥
Current Price: $0.3730
$PNUT /USDT is trading at a pivotal level, facing bearish pressure as it tests key support zones. A potential breakdown could lead to further declines, though bulls may attempt to reclaim momentum with a breakout.
Trade Scenarios
Bearish Outlook:
Entry: Below $0.3500 (Confirmation of breakdown)
Take Profit:
TP1: $0.3300
TP2: $0.3100
Stop Loss: $0.3750
Bullish Counterplay:
Entry: Above $0.3700 (Clear breakout above resistance)
Take Profit:
TP1: $0.3800
TP2: $0.4000
TP3: $0.4200
Stop Loss: $0.3500
Market Insights
Resistance Levels:
$0.3800 (Immediate resistance)
$0.4000 (Major breakout target)
Support Levels:
$0.3500 (Key breakdown level)
$0.3300 (Critical downside target)
Indicators to Watch:
RSI: Currently neutral but tilting toward bearish momentum.
Volume: Declining buy volume signals weakening bullish attempts.
Outlook
A confirmed drop below $0.3500 could open the door for further downside toward $0.3300 or even $0.3100. Conversely, a sustained move above $0.3700 with increasing volume could spark a bullish reversal, targeting $0.4000.
Pro Tip: Stay patient and look for volume confirmation before entering a trade. Use tight risk management to navigate this volatile setup.
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