Peanut The Squirrel experienced a significant price surge following its listing on Coinbase.
Peanut The Squirrel Price Surge
In the last 24 hours, the price of Peanut The Squirrel soared over 20% to trade at $1.27 as of 9:55 p.m. EST. This increase follows Coinbase's announcement to list the meme coin.
Loss of Support at $1.3172
According to GeckoTerminal data, Peanut The Squirrel's price dropped below the $1.3172 support level. This indicates a risk of correction down to $1.1431. Continued bearish pressure could further lead the price down to $0.9600. However, if the price reclaims the $1.3172 support within the next 12 hours, it might attempt to convert the resistance at $1.4824 into support.
Technical Analysis and Forecast
Technical indicators on PNUT's 4-hour chart suggest a weakening bullish momentum following the recent rally. The Relative Strength Index (RSI) readings have started to decline, indicating waning buyer strength. Additionally, the MACD line is approaching the MACD Signal line, which could suggest an imminent bearish trend reversal.
Despite the recent surge, technical indicators highlight a potential weakening in the upward trend, creating uncertainty over Peanut The Squirrel's future price movements.
