🚀 $PNUT is showing a potential technical setup!
The asset is currently consolidating in a weekly accumulation range after a significant corrective phase, testing key Fibonacci support levels.
📈 The Technical Setup:
• The Pattern: Fibonacci Retracement and Bullish Harmonic Potential
• Short-term Target: 0.0752
• Macro Objective: 0.1200
• Market Structure: Accumulation range post-downtrend
🎯 Key Levels to Watch:
• Support / Accumulation Zone: 0.0367 - 0.0400
• Resistance: 0.0605 - 0.0750
• Breakout Level: 0.0605
• Stop Loss / Invalidation: 0.0367
📊 Confirmation:
• Volume: Neutral/standard volume
• Momentum: Price holding above golden pocket levels
• Trend: Horizontal consolidation following massive initial decline
⚠️ Invalidation:
A weekly close below the 0.0367 support level indicates a failure of the accumulation phase and continuation of the primary downtrend.
PNUT is currently building a bottoming structure within a tight range, waiting for a breakout above the 0.0605 resistance level to initiate a move higher.
💎 Creator: NOUMAN_DON (@NOUMAN_DON)
#Pnut #crypto #BinanceSquare #Binance #bitcoin
The asset is currently consolidating in a weekly accumulation range after a significant corrective phase, testing key Fibonacci support levels.
📈 The Technical Setup:
• The Pattern: Fibonacci Retracement and Bullish Harmonic Potential
• Short-term Target: 0.0752
• Macro Objective: 0.1200
• Market Structure: Accumulation range post-downtrend
🎯 Key Levels to Watch:
• Support / Accumulation Zone: 0.0367 - 0.0400
• Resistance: 0.0605 - 0.0750
• Breakout Level: 0.0605
• Stop Loss / Invalidation: 0.0367
📊 Confirmation:
• Volume: Neutral/standard volume
• Momentum: Price holding above golden pocket levels
• Trend: Horizontal consolidation following massive initial decline
⚠️ Invalidation:
A weekly close below the 0.0367 support level indicates a failure of the accumulation phase and continuation of the primary downtrend.
PNUT is currently building a bottoming structure within a tight range, waiting for a breakout above the 0.0605 resistance level to initiate a move higher.
💎 Creator: NOUMAN_DON (@NOUMAN_DON)
#Pnut #crypto #BinanceSquare #Binance #bitcoin
