Market Overview for Peanut the Squirrel/Bitcoin (PNUTBTC) as of 2025-09-24

• Price action on PNUTBTC formed a consolidation pattern amid a range-bound 24-hour session.
• Key support hovered near 1.87e-06 with resistance at 1.90e-06, limiting directional momentum.
• Volatility remained subdued, with Bollinger Bands narrowing during late ET hours.
• Volume spiked during the 00:15–00:30 ET window, but no corresponding price breakout followed.
• RSI and MACD showed no signs of overbought or oversold conditions, indicating neutral sentiment.

The PNUTBTC pair opened at 1.88e-06 on 2025-09-23 at 12:00 ET, reached a high of 1.92e-06, and closed at 1.91e-06 as of 12:00 ET on 2025-09-24. Total volume traded over the 24-hour period was 217,161.1 units, with a notional turnover of 410.81e-6 BTC equivalent. Price action remained tightly contained, with no significant breakouts above 1.92e-06 or below 1.85e-06.

Structure on the 15-minute chart revealed a series of narrow-range consolidation patterns, with key support forming at 1.87e-06 and resistance at 1.90e-06. A potential bearish engulfing pattern emerged during the 03:45–04:00 ET window as price closed lower after a brief retest of 1.88e-06. A doji formed at 03:15–03:30 ET, suggesting indecision and potential reversal.

Moving Averages and Trend Confirmation

A 50-period 15-minute EMA remained flat between 1.88e-06 and 1.89e-06, failing to provide directional bias. The 20-period EMA showed minor fluctuations but stayed aligned with the 50-period, indicating neutral trend. Daily 50/100/200 EMA lines were clustered near 1.88e-06, suggesting a continuation of range trading.

Momentum and Sentiment Indicators

MACD remained in the neutral zone, with no clear bullish or bearish divergence observed over the past 24 hours. RSI oscillated between 45 and 55, confirming sideways sentiment. No overbought or oversold conditions emerged, suggesting balanced buying and selling pressure.

Volume and Turnover Analysis

The most notable volume spike occurred between 00:15–00:30 ET, where volume surged to 54,563.3 units, but price failed to follow through with a meaningful move. This divergence suggested a potential false break attempt. A second volume spike followed at 03:30–03:45 ET, but again, price failed to confirm a directional move.

Fibonacci Retracements

Fibonacci levels from the 1.92e-06 high to the 1.85e-06 low highlighted key retracement levels at 1.88e-06 (38.2%) and 1.87e-06 (61.8%). These levels coincided with areas of prior support and resistance, reinforcing their significance. A retest of the 61.8% level occurred at 04:15–04:30 ET, but price failed to close below it.

Backtest Hypothesis

The backtesting strategy described involves a mean-reversion approach triggered by Bollinger Band contractions and RSI divergence. A long position is initiated when price closes above the 50-period EMA and RSI crosses above 45 after a contraction in Bollinger Bands. Given the recent contraction and neutral RSI readings, a potential entry could be considered if price breaks above 1.92e-06. This aligns with the observed volatility contraction and suggests a possible breakout scenario.