Peanut the Squirrel (PNUT) is approaching a key resistance level at $0.22, drawing increasing attention from traders. Traders on social media are suggesting a potential breakout, fueled by increasing market interest and momentum. This could lead to a strong upward trend if PNUT surpasses this critical level.
PNUT Price and Current Technical Outlook
As of April 29, 2025, Peanut the Squirrel is trading near $0.18, with a 24-hour volume of nearly $85 million. Its market cap sits at about $176 million. Over the past week, PNUT has gained about 26%, indicating good momentum.
Daily trading volumes remain robust, with millions of tokens exchanged on major platforms like Binance and Bitget. This consistent demand is evident, as traders on social media boast of buying the coin with large sums.
PNUT is trading above its 50-day simple moving average of $0.168, approaching $0.18, signifying a sustained uptrend. The Relative Strength Index (RSI) around 60 shows moderate positive momentum without being overbought. Meanwhile, the Average Directional Index (ADX) remains strong, staying below 49, indicating a solid trend is in place.
Together, these factors signal that a solid upward surge is underway. Traders seek volume spikes and MACD confirmation to validate a breakout, as consistent momentum and high trend strength increase the likelihood of prolonged gains.
PNUT’s Resistance and Future Outlook
PNUT faces key resistance near $0.22, a major level traders are watching closely. Breaking through this could lead to targets around $0.24 and $0.26, drawing in additional buyers and propelling further gains. Support is between $0.12 and $0.13, a zone that has held firm throughout previous pullbacks and helped maintain the current uptrend.
If the PNUT price falls below $0.12, it may test the lower support near $0.10, potentially weakening momentum. Holding these levels is key for sustaining the surge. Traders are keenly examining these zones for signals of a breakout or reversal.
Moreover, market sentiment regarding PNUT is divided, but leaning cautiously bullish. Despite recent price drops, interest in the community remains strong. Other traders perceive this dip as a great buying opportunity, with some even saying, “billions will come.”
Some analysts foresee a probable rise above its resistance, with projections of a 50–100% increase from the current price. However, volatility and regulatory risks keep sentiment restrained. Overall, PNUT’s prospects rest significantly on community support and market momentum in the coming months.
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