- PNUT/USDT shows strong potential to reach $3.0491 if it clears the critical $1.6034 resistance level.
- Analyst Rose Pre suggests a stop-loss at $0.5516 to manage risks while aiming for the 300% target.
- The falling wedge pattern supports a bullish move, but traders need to wait for confirmation to act decisively.
The price of PNUT/USDT could see a 300% rally if it breaks above $1.6034, according to analyst Rose Premium. The cryptocurrency is currently trading at $0.6760, and technical charts suggest a bullish setup with a potential move toward $3.0491. Rose Pre highlights that this breakout is essential for confirming the trend, making $1.6034 a critical resistance level to watch closely.
Source: Rose Premium
Traders should also consider a stop-loss level of $0.5516 to minimize risks while waiting for the breakout. This ensures that potential losses are controlled while targeting the higher price range. Monitoring the breakout point is key to identifying whether the price is ready to move upward toward the projected target.
$1.6034: A Pivotal Resistance Zone for PNUT
PNUT is forming a falling wedge pattern, which is often seen as a bullish signal in technical analysis. Rose Pre has identified $1.6034 as the pivotal resistance level, and a clear breakout above this level could spark a significant rally.
The chart shows that Fibonacci retracement levels support the structure, with the 0.618 retracement acting as a consolidation zone. Traders are advised to enter positions only after the price breaks through $1.6034 to reduce risks from potential false signals.
A confirmed breakout at this level could bring substantial buying interest into PNUT, pushing the price closer to the $3.0491 target. Watching this critical resistance is important for traders aiming to capitalize on the bullish trend.
Targeting $3.0491 With Risk Management in Place
If PNUT breaks above $1.6034, its price could rise sharply to $3.0491, delivering a potential 300% return for traders. Historically, falling wedge patterns like this have triggered large price increases when confirmed, giving PNUT significant upside potential.
Traders should implement proper risk management by setting stop-loss orders at $0.5516 to protect their positions. This ensures that losses remain limited while allowing room for gains. Additionally, retracement levels such as 0.618 and 0.786 may act as interim supports during upward price corrections.
Rose Premium’s analysis indicates that PNUT has strong momentum, but traders must remain cautious and rely on clear signals. Waiting for confirmation reduces risks and helps align trades with the projected upward trend. PNUT provides an exciting opportunity for traders who are prepared to act decisively.
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