CandleFocus PNUT Price Falls 30% in One Week, Yet Path to Recovery Remains Possible
2024-11-21
Author: Content Editor
Peanut the Squirrel (PNUT), a meme coin with a $2 billion market cap, has experienced a 30% price drop in the past week but shows signs of a potential recovery. The Weighted Sentiment indicator, currently at a historic low of 0.12, suggests extreme market pessimism that could fuel an unexpected rebound. Additionally, the Relative Strength Index (RSI) indicates that PNUT's value could erase part of its losses. The increased trading volume indicates active participation from both buyers and sellers, with the price being defended at $1.31. If this support holds, PNUT's price could rally to $1.64 in the short term, or potentially even $1.94 in a highly bullish scenario. However, increased selling pressure could push the price down to $1.26.
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