$PNUT Short Position

Entry Zone: 0.07900- 0.08050

Stop Loss: 0.08550

Take Profit Targets:

∙ TP1: 0.07600

∙ TP2: 0.07200

∙ TP3: 0.06650

Bearish reasoning:

This thing just spiked hard to 0.08487 and immediately got smacked down, classic pump and dump behavior on the 1H chart. Price is now struggling to hold above the MA(7) at 0.07883, and every attempt to push higher is getting sold into. The volume profile shows massive distribution happening right now compared to the initial pump, which screams that smart money is exiting their positions.

PNUT
PNUTUSDT
0.06436
-8.72%