Peanut the Squirrel (PNUT) Exhaustive 24-Hour Technical Analysis

1. Trend & Price Structure Analysis

Long-Term Trend (March–June 2025)

• From late March to early May, PNUT mostly traded sideways to down, with prices repeatedly failing to sustain gains above $0.18–0.20. The price dipped as low as $0.12 in April, then bottomed in early May.
• A breakout occurs on May 8th, with a major spike ($0.15 to $0.22), followed by an explosive rally on May 9–13 peaking near $0.48 (over 100% gain in days), accompanied by extraordinary volume (1.25Bn+ May 9 alone...
• Post mid-May, heavy profit-taking, volatility, then a sustained downtrend develops with several lower highs and lower lows; support regions evolve lower ($0.26 → $0.24 → $0.22).
• Late June: After reaching as low as $0.19, marginal recovery to $0.22 resistance area.

Short-Term Structure (June 17–24)

• June 17–22: Price averages $0.22 region with a sharp test sub-$0.20.
• June 23: Strong recovery from $0.19→$0.22 intraday; June 24: range-bound $0.215–0.229, settling to $0.21923 at report time.
• Current 1-h trend: Mildly corrective/bouncing from prior sell-off lows; no strong momentum up or down.

2. Chart Pattern Recognition

• The large pattern is a descending channel (mid-May to present) with each bounce unable to break mid-high $0.20s decisively, building clear resistance at $0.22–$0.23 and higher resistance at $0.26–$0.27.
• Last 48h: Approach forms a mini double-bottom at $0.194–$0.197 (June 22–23) with modest recovery—classic sign of oversold bounce, but not a reversal.

3. Candlestick Patterns

• Recent sessions (June 23–24) show:
  • Hammers and dojis near the $0.195–$0.222 area, a sign of bottom-testing and indecision.
  • No bullish engulfing/reversal patterns. Candles repeatedly touch but fail to close above $0.223–$0.225.

4. Price Action and Volume Analysis

• Heavy volume spikes coincide strongly only with breakdown days and failed rallies (e.g. May 9, May 23, May 30), indicating sellers remain dominant post-pumps.
• Recent bounce off $0.19–$0.222 occurs on modest, not climactic, volume—typical of technical rather than fundamental recovery.
• No high-volume or aggressive buying at current levels; buyers seem tentative—the likelihood of a larger rally is low without a catalyst.

5. Technical Indicators

• Moving Averages (20/50/200 SMA): Not explicitly given, but approximate—price is under both short and longer term averages, indicating overall bearish bias. Recent closes below $0.23 confirm inability to reclaim key moving averages post breakdown.
• RSI (Estimated): Following a prolonged slide and minor bounce, likely hovering between 40–45—somewhat oversold, but not at deeply washed-out levels, room to fall more exists.
• MACD (Inferred): Momentum has slowed, histogram likely turning neutral; signal line is still below zero. Any cross would be weak, given low volume momentum.
• Bollinger Bands (Inferred): Bands have compressed after prior expansion during sell-off, with price at/below mid-band, indicating possible further move (likely down) upon another volatility expansion.

6. Fibonacci Retracement

• From the $0.48 mid-May top to the $0.19 recent low, major Fibo levels:
  • 23.6%: ~$0.26
  • 38.2%: ~$0.29
  • 50%: ~$0.33
• Bounce failed to reach even 23.6% retracement on last bounce—demonstrates overall bearish pressure.
• Current $0.22 resistance aligns with previous minor support, now flipped.

7. Support/Resistance Grid

• Immediate Resistance: $0.222 - $0.224 (recent hourly highs)
• Major Resistance Above: $0.229 (today’s high), $0.24–$0.26 (clustered early-month support, now turned resistance)
• Immediate Support: $0.215 (intraday low); $0.20 (psychological), $0.194 (recent double bottom)

8. Momentum/Volatility Indicators

• Recent daily range has compressed, with a series of small-bodied candles, suggesting an imminent breakout.
• Directionality: Statistical tendency after such low-volatility stalling, following a downtrend, is a renewed leg down unless sharp reversal volumes appear.

9. Market Sentiment & Order Flow

• The reluctance to bid above $0.22 contrasts with prior moments of sharp, high-volume buying.
• Order book (inferred): Offers likely stacked above $0.222–$0.229, pushing back repeatedly at attempted rallies.
• Bullish catalysts missing—absence of broad-market surges.

10. Trading Strategies

• Short selling on failed bounces: High probability after failed breakouts at local resistance. Would target prior lows.
• Long scalp bounces only at extreme oversold levels (sub-$0.195) with tight risk controls.
• Breakout trades: Only above $0.229–$0.230 with strong volume would a long be justified, but those conditions aren’t present.

11. Final Bias & 24-Hour Outlook

Combining all analytical threads:

• The trend remains firmly down, interrupted only by short, weak corrective bounces.
• Price now stalls under resistance (failed twice at $0.223–$0.229 last 24h).
• Without new, strong buying activity, price is likely to roll over from here, retesting recent support ($0.21, then $0.20 and $0.194).
• The risk/reward currently favors short-term sell/short positions on failed resistance until real bullish signals (volume, break of resistance, reversal candle) emerge.

Recommendation: Sell (Short Position)

Optimal Entry: As close as possible to current resistance $0.222–$0.223. Given current price is $0.219, look to short on any minor bounce to $0.222.

Target: $0.204 (cover at/near June 21 recent low), with a watch for possible extension to $0.195.

Risk: If price closes strongly above $0.23 on above-average volume, aggressive covering advised as reversal may be underway.

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Summary Table

Decision	Entry Price	Target Price
Short	$0.222	$0.204

Expect moderate volatility. Tight risk controls advised due to potential for sudden order flow shifts. For more aggressive traders, scaling in at $0.219 is reasonable with the same target and a tight stop above $0.23.