CandleFocus

PNUT Price Breakout Could Trigger 300% Surge to $3.0491 

Author: Content Editor
According to analyst Rose Premium, the price of PNUT/USDT could see a 300% rally if it breaks above $1.6034. The cryptocurrency is currently trading at $0.6760, with technical charts suggesting a bullish setup and a potential move toward $3.0491. Rose Premium emphasizes that the breakout above $1.6034 is critical for confirming the trend. Traders are advised to consider a stop-loss level of $0.5516 to minimize risks while waiting for the breakout. The falling wedge pattern formed by PNUT is seen as a bullish signal, and a clear breakout above $1.6034 could trigger a significant rally. Fibonacci retracement levels support the structure, with the 0.618 level acting as a consolidation zone. Traders should enter positions after the price breaks through $1.6034 to reduce risks from false signals. A confirmed breakout would bring substantial buying interest and push the price closer to the $3.0491 target. Setting stop-loss orders at $0.5516 is recommended to protect positions. Traders should remain cautious and wait for clear signals before taking action. Overall, PNUT presents an exciting opportunity for traders who are prepared to act decisively.

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