The Peanut token (PNUT) has successfully breached a key trendline, indicating potential price growth. After a period of stagnation, PNUT has gained popularity among traders.
Breakout and Price Recovery
The PNUT token managed to break through significant resistance, signaling a new bullish trend. Following this breakout, the price is recovering, showcasing increased interest from investors. Analysts noted that with the current momentum, gains of 30-40% can be expected if buying pressure continues.
Support and Resistance Levels
At the time of writing, PNUT was trading at $0.2668, reflecting a 10.15% gain over the past 24 hours. The $0.23-0.24 area now serves as support, while the next resistance target is set at $0.30-0.32. A break above this level could lead to an additional rally toward $0.36-$0.38.
Market Sentiment and Trading Activity
Trading activity for PNUT surged, with the 24-hour volume increasing by 153%, reaching $208.23 million. The community sentiment is also positive: 79% of respondents support further growth. This high level of market participation may lead to short-term price fluctuations, but demand continues to support higher consolidation levels.
In conclusion, positive trends for PNUT remain, potentially leading to further successes if current breakout levels are maintained. Community participation also indicates investor confidence in the token.
