CandleFocus Peanut the Squirrel Coin Hints Bottom Formation with Key Reversal Pattern
2024-11-27
Author: Content Editor
The crypto market saw bullish momentum as Bitcoin rose above $95,000, leading to renewed buying pressure for altcoins. The Solana-based Memecoin Peanut the Squirrel, which recently experienced a correction, hints at a potential reversal with a wedge pattern forming at $1. The current correction trend shows the formation of a falling wedge pattern, indicating a temporary downtrend before a potential breakout. The Peanut the Squirrel coin currently trades at $1.04 and is 9% away from challenging the wedge's resistance. A breakout could lead to a 140% rally and challenge the previous peak of $2.5. The momentum indicator RSI supports the potential breakout narrative.
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