PNUT/USDT Breakout Strategy: Capitalizing on volitility Thesis: PNUT/USDT is showing strong signs of accumulation, likely fueled by recent interest in the market following increased media coverage. This setup presents a strategic opportunity for a short-term upward movement. By focusing on key chart points, we can identify optimal entry and exit zones to maximize gains during this potential breakout.
Key Chart Points for Entry and Exit:
Entry Points:
Support Zone (0.0064-0.0072): This area has been a strong base during the accumulation phase, serving as an ideal entry point for those looking to enter at a discount while limiting downside risk.
20 & 50 EMA Alignment: Look for the price to retest the 20 or 50 EMA within the accumulation range. A successful test could signal strong buyer support and a foundation for the next leg up.
Exit Points:
Resistance Zone (0.0098-0.0102): This sell zone represents the next significant resistance based on historical price data and could be the area where price action peaks in the short term.
Breakout Confirmation: If the price closes above 0.0085 on higher volume, this may indicate a sustained breakout, allowing for a more conservative exit at the next major resistance.
Summary: With momentum on PNUT's side, this setup allows for strategic entries in the accumulation zone, capitalizing on a potential breakout. Watching the EMAs and volume closely will offer additional validation, and traders should aim for the upper resistance zone for a high-probability exit.
