Bullish divergence spotted!
Price is printing lower lows, but RSI is making higher lows — a classic bullish divergence pattern. This signals potential trend exhaustion on the downside.
#PNUT is holding above a horizontal support level around 0.12–0.13 USDT, aligning with the divergence signal.
Volume is tapering off, indicating decreasing selling pressure.
RSI is currently around 37–38 and showing a higher low structure.
Key levels to watch:
Support: 0.1220–0.1300 USDT (current demand zone).
Resistance: 0.1650 USDT (local high), followed by stronger resistance at 0.2000–0.2200 USDT.
Scenario ideas:
If PNUT can hold above support and RSI continues climbing, we might see a relief rally towards the next resistance zones.
A breakdown below 0.1220 would invalidate this bullish setup and could lead to continuation of the downtrend. Still... bullish divergence then will become even more obvious....
Bias:
bullish short-term, watching for confirmation.
⚠️ Not financial advice. Always manage your risk!
#PNUT #Crypto #Altcoins! #BullishDivergence #RSI