๐ฅ $PNUT /USDT Analysis Preparing for a Potential Reversal or Just a Relief Bounce๐
Current Price: $0.2111
Trend Bias: Bullish Short-Term Bearish Mid-Term
Timeframes: 1H & 1D Review
โฑ 1H Chart (Short-Term Momentum)๐
๐น $PNUT recently broke above a mini consolidation zone and tested $0.215 before a healthy pullback
๐น Price is now stabilizing around EMA20 support ($0.2063) and 50MA ($0.2056)
๐น RSI: 62.50 โ Still bullish, but slight bearish divergence forming
๐น Current candle structure shows indecision โ watch next 1H candle for breakout
๐ Short-Term Levels
Resistance: $0.2150 / $0.2200
Support: $0.2060 / $0.2043
๐ 1D Chart ๐
๐ธ Daily trend remains bearish with price trading below key moving averages (MA50, MA100, MA200)
๐ธ First sign of bullish momentum after forming a base near $0.195
๐ธ RSI: 42.92 โ Rising from oversold but still below 50 (trend not yet reversed)
๐ธ Major resistance: $0.2259 (near-term breakout confirmation needed)
๐ Daily Key Levels
Resistance: $0.2259 / $0.2434
Support: $0.2000 / $0.1880
๐ฏ Trade Plan (1โ2 Days)
๐ข Bullish Continuation Play (Short-Term):
Entry: $0.2080โ$0.2105
Target 1: $0.2200
Target 2: $0.2250
Stop-loss: $0.2025
๐ด If price fails to hold above $0.2040, expect pullback to $0.195 zone
๐ฌ $PNUT is showing early signs of recovery but hasn't broken daily structure. Watch $0.225+ breakout with volume for mid-term confirmation. Until then, it's a scalperโs zone between $0.204โ$0.220.
๐ง โReversals start small โ with higher lows and rising volume. Wait for proof before committing size.โ
๐ For educational purposes only. DYOR.
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