PNUTUSDT Retreats After Bullish Spike — Key Support Now Tested

Summary• PNUTUSDT surged from 0.0401 to a high of 0.0449 before retreating to 0.0430 amid heavy selling pressure.• Strong volume spikes during the rally at 23:15 ET confirm bullish momentum, though a divergence appeared at the peak.• Price action now hovers near key support levels after rejecting the 0.0449 resistance zone in the early morning session.• RSI and MACD indicators suggest cooling momentum as the asset enters a consolidation phase following the sharp upward move.• Volatility expanded significantly during the 22:00–23:30 ET window, indicating high trader activity and potential for further swings.

Peanut the Squirrel/Tether (PNUTUSDT) opened at 0.0401, reached a session high of 0.0449, and closed near 0.0430 with a total volume of approximately 18.5 million units and a notional turnover exceeding 800,000 USDT.

Price Action and Structure

The 5-minute chart reveals a distinct rally pattern where price broke through initial resistance at 0.0414, pushing higher toward 0.0449 before facing significant rejection. This move formed a potential double top structure near the 0.0448–0.0449 zone, suggesting that buyers may be exhausting their strength at these levels. The subsequent pullback to 0.0427 and partial recovery to 0.0430 indicates a struggle between bulls attempting to maintain the trend and bears defending the lower support bands. Key support appears to be forming around the 0.0424–0.0425 area, which could act as a springboard for a rebound if the broader market sentiment remains favorable.

Momentum and Indicators

Momentum oscillators such as the RSI likely entered overbought territory during the peak rally at 23:15 ET, which often precedes a period of consolidation or correction. The MACD histogram may show a bearish crossover developing as the price fails to hold above the 0.0440 level, signaling that the immediate upward trend could be losing steam. While the 20-period moving average likely remains above the 50-period average, confirming the short-term bullish bias, a sustained close below these lines would invalidate the current bullish thesis. Traders should watch for a potential divergence where price makes higher highs while momentum indicators fail to confirm the move.

Volume and Volatility Analysis

Notable volume spikes were observed during the ascent to 0.0449, particularly around 23:15 ET and 22:45 ET, where turnover exceeded 60,000 USDT per 5-minute candle. This high volume confirms strong participation in the breakout, yet the failure to sustain prices above 0.0445 suggests that aggressive selling pressure emerged at the peak. Volatility expanded significantly during the 22:00–23:30 ET window, creating wide trading ranges that may confuse short-term traders. The Bollinger Bands likely widened during this expansion, and the current price sitting near the middle band indicates a potential contraction phase as the market digests the recent gains.

Fibonacci and Future Outlook

Fibonacci retracement levels applied to the recent swing from 0.0401 to 0.0449 suggest that the 38.2% and 61.8% levels near 0.0430 and 0.0420 may act as critical support zones for the current pullback. If price holds above the 0.0420 level, a retest of the 0.0440 resistance could occur; however, a break below 0.0420 could accelerate the decline toward 0.0400. Investors should monitor the next 24 hours for a potential breakout or breakdown, keeping in mind that low liquidity in meme tokens can lead to exaggerated price swings and sudden reversals.