PNUT MARKET STRUCTURE ANALYSIS
It's worth noting that $PNUT is currently trading near the mid-range of $0.05594, with a 24-hour change of 0.04% and a 24-hour volume of $0.09M. The volume profile indicates a relatively neutral buying pressure, with $PNUT struggling to break above the resistance zone of ~$0.05835. A clean breakout above this level could lead to a potential target of $0.06000, representing a 7.5% increase from current prices if $PNUT can sustain above $0.05835. I'm monitoring the order blocks and liquidity pools, and $PNUT shouldn't have issues holding above the support zone of ~$0.05351.
The funding rates are relatively stable, indicating a neutral market sentiment, with $PNUT's price action being driven by the current market structure. The VWAP is currently at $0.05550, and $PNUT is trading above it, which is a positive sign. However, the market structure shift is still uncertain, and $PNUT needs to break above the resistance zone to confirm a bullish trend.
The current price action of $PNUT suggests that it's consolidating near the mid-range, and a break above or below this level could lead to a significant move. I'm tracking $PNUT closely, and a clean breakout above $0.05835 could lead to a potential target of $0.06000, while a break below $0.05351 could lead to a potential target of $0.05000.
$PNUT