Technical Analysis of PNUTUSDT Chart (4H)

28 Feb

📌 Overall Trend Overview:

✅ The price has been in a long-term downtrend, but recent signs of a reversal are visible.

✅ The price has managed to bounce from a key support level (around 0.13) and is now forming new highs.

✅ Trading volume has increased in bullish candles, indicating buyer interest.

✅ The price has entered the Ichimoku Cloud but has not yet consolidated above it.

📌 Key Levels Analysis:

🟢 Support:

Range 0.13 – 0.14 (local low and price reversal zone)
Range 0.20 (potential support in case of a pullback)
🔴 Resistance:
Range 0.27 – 0.28 (current ceiling where the price has encountered resistance)
Range 0.30+ (if broken, it would confirm a stronger uptrend)
📌 Indicator Analysis:

📌 RSI:

It’s in the overbought territory, suggesting a possible short-term correction.
However, it remains above 50, which is considered a bullish signal.
📌 Ichimoku:
The price has entered the Kumo Cloud, and if it consolidates above it, a stronger uptrend could develop.
The Tenkan-sen (blue line) and Kijun-sen (red line) have formed a bullish crossover, which is a confirmation of positive momentum.
📌 Two Likely Scenarios:

📈 Bullish Scenario:

If the price consolidates above 0.28, it could move toward 0.30 – 0.33.
This scenario requires confirmation with increased trading volume during a resistance breakout.
📉 Bearish Scenario (Pullback or Correction):
Given the overbought RSI, a correction or pullback is possible.
If the price gets rejected at 0.27, a pullback to 0.20 – 0.22 could occur, presenting a good re-entry point for buyers.
📢 Conclusion and Suggested Strategy:

✅ If the price consolidates above 0.28, the bullish scenario is confirmed, activating higher targets.

✅ However, if it fails to break the 0.28 resistance, a correction to 0.20 – 0.22 is likely, potentially creating a buying opportunity.

✅ Entering at the ceiling (0.27 – 0.28) carries high risk; it’s better to either enter on a confirmed breakout or wait for a pullback.

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I’m currently taking a short-term short position from around 0.28, and I’m setting my targets at 0.2530, 0.2435, 0.23, and 0.22, with my stop-loss placed at 0.29.

📉 Short Position Details:

✅ Targets: 0.2530, 0.2435, 0.23, 0.22

🛑 Stop-Loss: 0.29

28 Feb

Dagangan aktif

📌 Updated

✅ The price has broken the 0.28 resistance and climbed to 0.3031, which is a positive sign for the continuation of the uptrend.

✅ Trading volume in bullish candles is relatively high, indicating that buyers are still active.

✅ The price remains within the Ichimoku Cloud range, and if it can consolidate above it, further growth is likely.

📉 New Key Levels:

🔴 Resistances:

0.3030 – 0.32 (current ceiling range that the price is approaching)
0.35 (next potential resistance)
🟢 Supports:
0.2902 (red line marked on the chart, short-term support)
0.25 – 0.26 (strong support in case of a correction)
📊 RSI Analysis and Correction Probability:

📌 The RSI is in the overbought zone (around 74-75), suggesting a high likelihood of a short-term correction or pullback.

📌 If the price fails to consolidate above 0.3030, a correction to 0.29 – 0.27 is possible.

📈 Possible Scenarios:

1️⃣ Bullish Scenario:

If the price consolidates above 0.30 and trading volume holds steady, it could rise to 0.32 – 0.35.
Confirmation of this scenario: A strong breakout above 0.3030 with high volume.
2️⃣ Correction Scenario:
If the price fails to hold above 0.30, a correction to 0.29 – 0.27 is likely.
This could be a buying opportunity for re-entry at support levels.
📢 Conclusion and Suggested Strategy:

✅ Entering at the current ceiling (0.30+) carries high risk; it’s better to either enter on a confirmed breakout or wait for a pullback.

✅ If the price loses 0.30, a short-term correction to 0.29 – 0.27 would be natural.

✅ Next targets if the uptrend continues: 0.32 and 0.35.