CandleFocus PNUT Price Drops 20%, Momentum Weakens Amid Bearish Pressure
2024-11-22
Author: Content Editor
The price of PNUT has dropped over 20% in the past 24 hours, following a surge after its listing on major exchanges. This decline suggests a weakening trend, as indicated by the ADX and RSI. However, if buyers return, PNUT has the potential for a strong recovery. If bearish pressure continues, PNUT could face a significant correction and potentially lose more ground. The ADX and RSI have both been declining, indicating weakening momentum. The RSI is approaching oversold levels, suggesting that PNUT may be undervalued in the short term. If a downtrend emerges, PNUT could test support levels at $0.749, $0.41, and $0.32. Conversely, if the uptrend regains strength, PNUT could rise to test resistance levels at $1.87 and $2.21, potentially retesting its previous all-time high of $2.50.
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