Got long stoploss, seen that its will down to 0.35
Anasta Maverick
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Bearish
$PNUT /USDT Technical Analysis – Oversold Zone, Watch for a Rebound
$PNUT /USDT is trading at 0.4535, showing a steep decline of 14.45% over the last 24 hours. The price hit a 24-hour low of 0.4475, indicating strong bearish pressure, though technical indicators suggest oversold conditions.
Key levels to watch:
Resistance: Immediate resistance is at 0.4870. A breakout above this level could lead to further recovery toward 0.5200.
Support: Key support lies at 0.4475. A breakdown below this level may push the price further down to 0.4200.
Trading strategies:
Long positions: Consider entries near 0.4475 with profit targets at 0.4870 and 0.5200. Use a stop-loss below 0.4200.
Short positions: Watch for rejection near 0.4870. If the price breaks below 0.4475, targets could include 0.4200, with a stop-loss above 0.4870.
Market insights: The current RSI indicates extremely oversold conditions, suggesting a potential short-term bounce. However, the overall trend remains bearish. Traders should monitor key levels closely for signs of recovery or further decline. Manage risk carefully in this volatile market.
The Coin98 (C98) team facing criticism from the community is not surprising given that they have allowed a series of issues affecting users and the project's reputation. Some points that the team needs to take serious responsibility for include:
Ineffective technical management: Balance display errors, unstable features, and lack of instant support have created a poor experience for users. This is unacceptable for a financial product like a blockchain wallet.