#PNUTSelloff

### Observations:

1. **Current Price**: $1.75 (+12.54% in 24h).

2. **Moving Average**: The MA60 (60-period moving average) is at $1.7416, acting as dynamic support.

3. **MACD**: Positive histogram bars indicate bullish momentum, but the signal is relatively weak.

4. **Volume**: There has been a noticeable increase in trading volume, which suggests strong interest in the asset.

5. **24H Range**: $1.5055 (low) to $1.7608 (high).

---

### Trading Strategy

#### 1. **Long Strategy**:

- **Entry**: Around $1.74 (if it retests MA60 support and holds).

- **Take Profit (TP)**:

- TP1: $1.80 (recent high breakout level).

- TP2: $1.90 (psychological resistance).

- **Stop Loss (SL)**: $1.69 (below the MA60 and prior support level).

- **Trade Duration**: 4–8 hours (short-term swing trade based on momentum).

#### 2. **Short Strategy**:

- **Entry**: $1.78–$1.80 (if price faces resistance at the recent high).

- **Take Profit (TP)**:

- TP1: $1.70 (near MA60 support).

- TP2: $1.65 (strong horizontal support from historical levels).

- **Stop Loss (SL)**: $1.83 (above the resistance zone).

- **Trade Duration**: 4–8 hours (monitoring rejection at resistance).

---

### Contingency Plans (Plan A, B, C, D)

#### **Plan A (Price Moves in Your Favor)**:

- **Long**: Move stop-loss to breakeven ($1.74) once price reaches $1.78.

- **Short**: Move stop-loss to breakeven ($1.78) once price drops below $1.74.

#### **Plan B (Price Moves Against Your Position)**:

- Exit the trade at stop-loss levels to minimize loss.

- For long trades, wait for reentry near $1.69 if MA60 breaks.

- For short trades, wait for confirmation above $1.83 for reentry.

#### **Plan C (Breakout Scenario)**:

- If $1.80 is broken with high volume, reenter long with a target of $1.90–$2.00.

- If $1.70 is broken downward with high volume, reenter short with a target of $1.60.

#### **Plan D (Choppy Market)**:

- Avoid trading if the price fluctuates between $1.73–$1.77 without clear direction.

- Monitor for better entry points or wait for a trend confirmation.

---

### Additional Notes:

- Monitor **volume spikes** for signs of trend continuation or reversal.

- Adjust your strategy based on broader market sentiment (Bitcoin or major altcoins’ movements).

- Reassess if PNUT/USDT drops below $1.65 or breaks above $1.85 with significant momentum.

Would you like me to refine any specific aspect of this analysis or focus on longer-term strategies #BONKBURNmas #SOLWatch #XRPPriceAction #DEXXBreach $PNUT

$BTC