Falling Channel Breakout on PNUT/USDT – Next Stop: $0.76?📊 Pattern Analysis:
Falling Channel (Descending Channel): PNUT formed a clear falling channel from early May to late June 2025. This pattern typically signals a potential bullish reversal once a breakout occurs.
Confirmed Breakout: The price has successfully broken above the upper boundary of the falling channel, which is an early sign of a potential bullish trend.
Strong Support Zone: The horizontal zone around $0.20 – $0.26 USDT has acted as a solid demand base, as seen multiple times from March to June.
✅ Bullish Scenario:
If the breakout continues with momentum, the price could move upward gradually, aiming for the following resistance levels:
1. Target 1: $0.2986 – Minor resistance
2. Target 2: $0.3774 – Previous consolidation area
3. Target 3: $0.4403 – Major historical resistance
4. Target 4: $0.5951 to $0.7674 – Recovery zone from the falling channel
5. Extended Target (Long-Term): $1.0797 to $1.7957 (if a full rally occurs with strong bullish sentiment)
❌ Bearish Scenario:
If the price fails to hold the breakout and re-enters the channel:
Potential drop back to the support zone of $0.2000 - $0.1600
A breakdown below this range may lead to further downside toward $0.1300 to $0.1000 (previous historical low)
🔍 Summary:
The chart displays a classic bullish reversal pattern with a confirmed breakout from the falling channel.
The $0.26–$0.29 area now acts as a key confirmation zone. If the price holds above it and completes a successful retest, the bullish continuation is likely.
However, traders should stay cautious of false breakouts.
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