Technical setup shaping up – is PNUT getting ready to move? $PNUT /USDT is currently forming a descending triangle pattern on the 12H timeframe, typically seen as a continuation structure.
Following its strong upward move earlier this month, the price has entered a tight consolidation phase, respecting both support and descending resistance. This kind of setup often precedes a strong breakout – but confirmation is key. ✅
Chart Insights:
🔹Strong support between $0.29 – $0.33 has been consistently tested but not broken
🔹Descending resistance is compressing the price, creating a narrowing price structure
🔹A breakout above the resistance could suggest renewed bullish momentum
🔹Pattern height indicates a potential long-term target around $1.07+ if continuation occurs
🧭 Key Price Levels to Watch:
🔓 Breakout Level: Watch for a confirmed breakout above the descending trendline
📍 First Resistance: $0.3885
📍 Second Resistance: $0.4646
🎯 Measured Move Target: $1.07+ (based on previous impulse height)
⚠️ Important Note:
This content is for educational and informational purposes only and does not constitute financial advice. Always perform your own research and consult a financial professional before making investment decisions. Risk management is essential when trading any asset.
✅ What to Monitor:
Breakout volume – is it increasing on the move above resistance?
Retest confirmation – does price respect previous resistance as new support?
Market sentiment and BTC trend – broader conditions can impact altcoin breakouts
📊 Conclusion:
PNUT/USDT is showing a technically strong structure that deserves attention. If the price breaks above the triangle’s resistance with volume, a short-term target of 15%+ and a long-term potential toward $1.07+ may become valid—only if the breakout confirms.
Buy and Trade Here $PNUT