PNUT price, a top 10 meme coin in the market, is gaining attention for its bullish momentum potential. With its ADX rising and RSI nearing overbought levels, PNUT could challenge POPCAT’s position in the rankings if the uptrend continues. However, a loss of momentum could lead to significant corrections, testing support levels as low as $0.41.
Currently, PNUT’s ADX is on the rise, signaling increasing buying pressure and strengthening trend strength. While the ADX is still below the 25 threshold for a strong trend, the significant increase suggests momentum is building, creating the potential for a stronger uptrend if current conditions persist.
Additionally, PNUT’s RSI has climbed significantly, indicating strengthening bullish momentum. With the RSI approaching the overbought zone but still below 70, PNUT reflects strong buying activity with room for further growth. Historically, RSI levels nearing 70 have resulted in strong price increases, suggesting potential for additional upward movement.
Looking at price predictions, if PNUT breaks through resistance at $1.41, it could climb to $1.87, and even reach $2.50, potentially surpassing POPCAT in the meme coins rankings. However, if the uptrend loses steam, PNUT price could test support levels at $1.04 and $0.74, with the possibility of dropping further to $0.41 in a significant correction.
In conclusion, PNUT’s price analysis highlights the coin’s potential for continued growth if buying pressure persists and momentum strengthens. The current uptrend suggests the possibility of challenging higher resistance levels and potentially surpassing competitors in the rankings. However, market conditions are subject to change, and investors should conduct their own research and consult with professionals before making any financial decisions.
