In the cryptocurrency market today, the Peanut the Squirrel (PNUT) token is showing signs of recovering bullish momentum following a major correction.
Key Breakout Analysis
The 15-minute PNUT/USDT chart reveals a descending channel pattern, typically a bullish sign when broken upwards. The recent surge broke past this channel, backed by increased trading volume. Current resistance levels stand at $2.08, $2.20 - $2.25, and $2.40 - $2.46.
Binance Update
Recent Binance update introducing a new trading pair PNUT/BTC has added liquidity and visibility, potentially boosting the token's rally by attracting new traders and investors.
Is A Rally On Horizon?
The current technical outlook for PNUT suggests a bullish scenario in the short term. Post-descending channel breakout, watching levels above $2.00 is crucial for trend confirmation.
Despite the recent correction, current trends and updates suggest PNUT may grow in the near future. It's crucial to monitor key levels and financial news.
