In a volatile turn of events, the PNUT Coin declined by over 10% within a short timeframe, raising questions about its ability to hold the $0.32 support level. As of May 15, 2025, technical indicators and price action suggest that the token could record more losses.
Looking at the 30-minute chart of PNUT/USDT, the recent PNUT price movement shows a clear breakdown from an ascending channel that previously guided the bullish momentum for several days. The upward trajectory that began around May 8 peaked just above $0.42.
However, this rally was met with strong resistance. This classical reversal pattern, marked by two failed attempts to break above the $0.42 area, signaled weakening bullish strength.
Huge Downward Pressure
The breakdown below the lower trendline of the ascending channel acted as a confirmation of the bearish momentum. A sharp impulse downward followed, pushing the Peanut the Squirrel token into a corrective zone.
The chart marks a projected bearish move with a blue arrow and a red risk box, indicating a short target aiming near the $0.32 support level. This aligns with historical support from late April and early May, where previous consolidation zones acted as price cushions.
Currently, PNUT is trading just above $0.35, and the downward pressure is apparent. Volume has spiked during the sell-off, indicating increased market activity and a lack of buyer absorption in the current range. A significant black horizontal line around $0.32 suggests both bulls and bears are closely watching this level.
A sustained break below this level could trigger a cascade effect, potentially driving the token toward the next major demand zone near $0.28–$0.29, which is also marked in red as a support band.
Meanwhile, the 200-period moving average on the 30-minute timeframe, seen cutting near the lower red support zone, adds weight to the idea that the $0.28–$0.30 region could act as a final line of defense in the short term. However, the current sentiment leans bearish, and unless the PNUT Coin can recover above the $0.35–$0.36 short-term resistance, the market may remain under pressure.
PNUT Coin and the Future
From a broader perspective, market-wide sentiment in the DeFi space also affects smaller-cap meme coins like PNUT. A correction in the altcoin market, tightening liquidity, and declining speculative momentum have made it harder for mid and small-cap tokens to maintain their gains.
PNUT’s immediate future depends on whether it can maintain the $0.32 support level. A bounce here could allow bulls to regroup, potentially retesting higher levels. However, failure to hold may lead to deeper corrections toward $0.28.
Traders should monitor volume profiles and candlestick activity near these key levels. They will likely offer the clearest clues on whether the bulls are ready to defend or abandon the PNUT Coin.
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