Peanut the Squirrel Price Analysis Powered by AI

Peanut the Squirrel (PNUT): Bullish Setup After Double Bottom – Ready for Breakout?

Long Term View (3-Month Overview):
- Initial base-building phase from Apr to late-Apr, PNUT traded in a tight range of ~$0.13–$0.17 with mildly increasing volatility but no clear direction.
- Explosion in Volatility (May): Notable upward break on May 8, surging from $0.15 to as high as $0.47 (May 13) in just days. Followed by sharp correction toward $0.25, establishing this range as major new support/resistance zone.
Medium/Short Term (Past 2 Weeks):
- June: Downtrend from ~$0.33+ into $0.19–$0.22, with volatile bounces every time price dipped sub-$0.20. Price appears to form a new base in the $0.20–$0.22 zone.
- Current Price: $0.2178 is at the top of today’s range; tested $0.22; low volatility and orderly advance after bouncing sharply from $0.19–$0.20 lows two days ago.

Recent Weeks: Volume is compressing after the early May surge. Highest volume accompanied the top and liquidation between $0.35–$0.40. After the correction, the last 3 days have shown a mild tick up in volume as price rebounded off $0.19.
Intraday: Each leg upward over the last 12 hours saw incremental pushes in volume, showing increasing participation on the way up.

Daily Candles: Recent sessions formed wicks below $0.20, indicating strong buyer defense and repeated rejections of downside progress.
Today’s Action: The last few hourly candles are short-bodied, with tiny upper/lower shadows—indicating balance as price hovers just below $0.22.

Simple Moving Averages (Estimated):
- 7-day SMA: ~$0.207 (turned up sharply past 24h)
- 14-day SMA: ~$0.210 (flat/just turning up)
- 50-day SMA: ~$0.25 (sloping down, acting as dynamic resistance above $0.23–$0.25)
Interpretation: Short-term trend is up, strong support at $0.20, first resistance at $0.22.

Support:
- Major: $0.19–$0.20 (see dense low-area in last 3 dailies)
- Secondary: $0.205 (pivot from 48hr ago)
Resistance:
- Immediate: $0.22 (today’s range top and past reaction high)
- Next: $0.23–$0.24 (prior breakdown spot)
- Strong: $0.25–$0.27

RSI (14, estimated): Likely near 54–56 (neutral to slightly bullish as price rebounds from oversold base)
Stochastic: Emerging from oversold and crossing above 20 on upward move (momentum supports further bounce)
MACD: Minor bullish crossover on intraday frames; daily appears flat to mildly bullish.
Bollinger Bands: Price recently broke above midline (~$0.21), bands narrowing in past 24h signaling prelude to volatility expansion (likely toward resistance).

Double Bottom: Near-perfect double bottom at $0.19–$0.195 (June 21/22 and June 25/26) with clear upturn thereafter; confirms strong base and buyer interest.
Ascending Triangle (Micro): Last 12h shows ascending lows pressing up against flat $0.218/$0.22 resistance—a classic bullish breakout setup.

Recent Order Book Prints (Intraday): Each move toward $0.22 meets overhead absorption, but lack of strong sell-off suggests sellers are thinning out. Bid-side thickens at $0.21/$0.20.

ATR (Average True Range, estimated): Has compressed from >$0.04 to just ~$0.013, meaning stop runs are likely to be less violent in short term; good for a controlled entry.
Potential Catalysts: Market has shown strong defined rotations—suggests aggressive shorts covering and fast long participation if $0.22 is broken.

Scenario 1: Bullish Breakout (60%)
- Price consolidates just below $0.22, breaks through with first upside target $0.228, then $0.235–$0.24 (toward next resistance band). Volume uptick to confirm.
Scenario 2: Range Rejection/False Break (30%)
- Quick move above $0.22 stalls, drops to $0.211–$0.205 before buyers defend again. Range-bound action persists until new catalyst.
Scenario 3: Trend Failure, Retest of Base (10%)
- Unlikely unless sharp market risk-off; would see fast drop to $0.194 and strong bounce.

Confluence: Double bottom base, rising short-term averages, and micro ascending triangle create a strong case for a further upside attempt.
Risk/Reward: Attractive with clear stops just below $0.21 and upside potential toward $0.23–$0.24 on breakout.
Tactical Entry: Slight retrace from current close ($0.2178) for optimal fill/stop placement; an entry at $0.2150 offers >2:1 up/down ratio to first target.
Strategy: Buy on minor dip, stop-loss at $0.208, take-profit at $0.229 (primary), scale out at $0.238 (secondary).

Summary:

Short-term reversal confirmed by price action, indicator alignment, and pattern structure. Ascending triangle favors breakout into thin resistance above, with low volatility set for expansion. Target $0.229, stop-loss $0.208. Potential for 5–6% upside in 24h if breakout confirmed.