PNUT at a crossroads: 20% drop and warning signals from the indicators

What happened: PNUT plummeted 20% in one day after hitting $2.28 on the big exchanges. It seems that the euphoria of the listing has passed, and now the market is readjusting the accounts.

Numbers say it all

Look at these indicators:

• ADX at 18.76: Well below the 50 we had a few days ago. This means that the strength of the upward trend is weakening. An ADX below 20 is already a sign that the “party” is coming to an end.
• RSI at 32.6: Practically touching the oversold zone (below 30). It is the lowest level since it entered Binance. The selling pressure is heavy.

And now, where to go?

If selling continues to dominate: PNUT may test support at $0.749. If it doesn't hold, it could get worse: $0.41 and even $0.32. That would be a monster correction of 72%. In this scenario, memecoins like MOG, GOAT, and MEW will take off ahead.

If buyers come back with everything: The recovery could take PNUT up to $1.87, then $2.21, and who knows, maybe hit the previous record of $2.50? This would represent a rise of 111% and place the token among the top 10 memecoins in the market.

The verdict

The current uptrend is weak. The weakened ADX + RSI near oversold = recipe for volatility in the coming days. Traders who entered the euphoria of the listing are exiting, and the market is waiting for a clear signal of recovery. Until that happens, PNUT remains on a tightrope.