PNUT Gains Steam, Will Peanut the Squirrel Climb Back to $1?

Tech

PNUT Gains Steam, Will Peanut the Squirrel Climb Back to $1？

• Peanut the Squirrel is up over 12%, hovering around $0.4114.
• PNUTs daily trading volume has surged by 70%.

The global crypto market cap has reached $3.33 trillion, with the fear and greed index value holding at 73, reflecting the greed sentiment across the market. Notably, PI, WIF, and Kaspa took the spotlight among top gainers with two-digit gains.

Peanut the Squirrel (PNUT) is one of the trending coins that has surged by over 12.08%. In the early hours, before the bullish shift, the asset traded at the bottom range of $0.344. The asset has tested the resistance between $0.36 and $0.45 levels.

At the time of writing, Peanut the Squirrel trades within the $0.4114 range, with a market cap of $411 million. The assets daily trading volume has increased by over 70.30%, reaching $1.12 billion.

Peanut the Squirrel has posted a remarkable gain of over 150% in the last seven days. The asset began the week trading at around $0.1641 and gradually, the asset has mounted to a high range of $0.46.

Is Peanut the Squirrel Eyeing New Heights？

The four-hour chart of Peanut the Squirrel exhibits a positive trading pattern. After multiple red candle formations, the asset turned green and entered the bullish zone. If the asset could break the $0.43 and $0.46 levels, more upside might occur.

Contrarily, a rejection at the crucial $0.4021 range might invite the bearish pressure. A breakdown below this mark could push PNUT to the $0.37 mark, kickstarting a death cross, making the bullish shift challenging.

The Moving Average Convergence Divergence (MACD) line has crossed over the signal line, indicating that the bullish momentum is building. PNUTs Chaikin Money Flow (CMF) indicator remains negative at -0.03, suggesting that the capital is flowing out, and slight selling pressure in the market.

In addition, the Bull-Bear Power (BBP) reading of 0.0881 signals mild bullish momentum, with the buyers having a edge over sellers. Peanut the Squirrels daily relative strength index (RSI), found at 67.28, implying that the asset is approaching the overbought zone.