Anasta Maverick
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Bearish
$PNUT /USDT: Bearish Pressure Mounts – Will Support Hold?
Current Price: $0.1607
$PNUT has dropped 2.90% in the last 24 hours, testing key support levels as selling pressure continues. With a high of $0.1789 earlier, the price is now trending downward, showing signs of potential further decline.
Key Levels to Watch:
Support: $0.1596 – A break below this level could accelerate the downtrend.
Resistance: $0.1670 – Bulls need to reclaim this level to reverse momentum.
Trade Setup:
Short Entry: Below $0.1596 for potential downside continuation.
Long Entry: If PNUT bounces above $0.1670, confirming recovery.
Targets:
1. $0.1550 (Short-Term)
2. $0.1490 (Mid-Term)
3. $0.1400 (Extended Target)
Stop Loss: $0.1650 to manage risk effectively.
Market Insight:
The MACD is deeply in bearish territory, signaling continued selling pressure.
Volume indicates strong bearish momentum, with buyers yet to step in.
If PNUT fails to hold support, expect further downside. However, any reclaim above $0.1670 could shift sentiment.
Traders should remain cautious as PNUT is currently on a downward trajectory. Watch price action closely before entering a trade.
#PNUT
Current Price: $0.1607
$PNUT has dropped 2.90% in the last 24 hours, testing key support levels as selling pressure continues. With a high of $0.1789 earlier, the price is now trending downward, showing signs of potential further decline.
Key Levels to Watch:
Support: $0.1596 – A break below this level could accelerate the downtrend.
Resistance: $0.1670 – Bulls need to reclaim this level to reverse momentum.
Trade Setup:
Short Entry: Below $0.1596 for potential downside continuation.
Long Entry: If PNUT bounces above $0.1670, confirming recovery.
Targets:
1. $0.1550 (Short-Term)
2. $0.1490 (Mid-Term)
3. $0.1400 (Extended Target)
Stop Loss: $0.1650 to manage risk effectively.
Market Insight:
The MACD is deeply in bearish territory, signaling continued selling pressure.
Volume indicates strong bearish momentum, with buyers yet to step in.
If PNUT fails to hold support, expect further downside. However, any reclaim above $0.1670 could shift sentiment.
Traders should remain cautious as PNUT is currently on a downward trajectory. Watch price action closely before entering a trade.
#PNUT
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