- PNUT completes a bullish rounding bottom pattern.
- Current price holds near $0.31 with resistance at $0.40–$0.45.
- Breakout may push prices toward the $0.50–$0.60 range.
The cryptocurrency Peanut (PNUT) is catching traders’ attention as it completes a textbook rounding bottom pattern on its 1-day chart—a setup that often precedes major upward momentum. Currently trading around $0.31, PNUT has shown steady accumulation, shaping a curved bottom structure that’s considered a reliable bullish reversal signal in technical analysis.
The rounding bottom typically reflects a gradual shift from bearish to bullish sentiment, and PNUT’s price behavior has been aligning perfectly with this theory. After a lengthy base-building phase, momentum now appears to be swinging upward.
Resistance Zone in Focus: $0.40–$0.45
Technical analysts are eyeing the $0.40 to $0.45 range as the key resistance. If PNUT can break through this level with strong volume, it could trigger a bullish continuation, with projected upside targets between $0.50 and $0.60. These price zones align with historical supply areas and psychological levels, adding weight to the forecast.
Traders should monitor for a decisive close above $0.45 to confirm the breakout. If confirmed, PNUT could enter a new bullish phase, offering strong short- to mid-term growth potential.
What This Means for Investors
For crypto investors and technical traders, this setup presents a compelling opportunity. Rounding bottoms are not just visual patterns—they reflect real market psychology where early sellers exhaust and buyers gradually regain control. The result is often a sustained upward movement following breakout.
As always, risk management remains key. While technical indicators are bullish, external market factors and broader sentiment also play a role in price action.
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