š $PNUT PNUT/USDT ā Major Decline Alert!
š Current Price: $0.6142 (-24.82%)
š 24H High: $0.8268
š» 24H Low: $0.6109
š° Volume:
PNUT: 379.38M
USDT: 271.42M
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Market Analysis
PNUT/USDT has witnessed a dramatic sell-off, dropping nearly 25% in the past 24 hours. The pair is now testing its 24H low near $0.6109, signaling increased selling pressure.
Resistance Zones:
$0.7000 ā A key short-term level to regain bullish momentum.
$0.7500 ā Secondary resistance to watch for signs of recovery.
Support Zones:
$0.6100 ā Immediate support; a breakdown may lead to further declines.
$0.5800 ā Strong historical support to monitor.
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Trading Recommendations
1. For Buyers:
Consider entries near $0.6100 if the price stabilizes, targeting a recovery to $0.7000.
Wait for bullish reversal signs before initiating trades.
2. For Sellers:
Watch for failed recovery attempts near $0.7000 to short.
Use tight stop-losses to minimize risk.
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Key Insights
Bearish Momentum: PNUT remains under significant selling pressure, reflected in its steep decline.
Oversold Conditions: Potential reversal near key support zones could present buying opportunities.
Risk Management: Due to high volatility, ensure tight stop-loss placements to protect your trades.
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Conclusion
PNUT/USDT is at a critical juncture, and the next moves will depend on whether it can hold the $0.6100 support zone. Monitor closely for signs of recovery or further decline to adjust your strategy.
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