PNUT Trend Analysis

Candlestick Pattern: Recent prices have shown a significant upward trend, especially on May 23, when the price rose from 0.3799 to 0.4139, reflecting a substantial increase. From May 22 to May 23, prices fluctuated between 0.3736 and 0.4168, forming multiple peaks, indicating strong market buying interest.

Technical Indicators:

MACD: The MACD line continued to rise on May 23, with both DIF and DEA showing positive values, and the MACD histogram gradually expanding, indicating enhanced market momentum. RSI: The RSI reached 74.4290 on May 23, entering the overbought zone, but no significant pullback signals have appeared, showing that the market remains in a strong state. EMA: The short-term EMA7 (0.3892) has crossed above the medium-term EMA30 (0.3677) and the long-term EMA120 (0.3478), forming a bullish arrangement that further confirms the upward trend.

Trading Volume:

The trading volume significantly increased on May 23, especially when the price broke above 0.40, with a volume of 10,210,467, indicating higher market participation. The trading volume on May 22 also remained at a high level during price fluctuations, particularly when the price rose from 0.3562 to 0.3693, with a volume of 22,554,643, indicating active market buying.