PNUT Forming a Potential Market Bottom
According to Mihir (@RhythmicAnalyst), PNUT is reportedly forming a market bottom, which could indicate a potential buying opportunity for traders. This formation is often seen as a bullish signal suggesting that the cryptocurrency might see upward price movement. Traders should watch for confirmation of this pattern before making trading decisions.
SourceAnalysis
On February 26, 2025, at 14:30 UTC, PNUT (Peanut Protocol) showed signs of forming a bottom, as indicated by a tweet from the analyst Mihir (@RhythmicAnalyst) [1]. The price of PNUT was at $0.0003, marking a 5% increase from its recent low of $0.000285 observed on February 24, 2025, at 10:00 UTC [2]. This bottom formation coincided with a trading volume spike of 20 million PNUT tokens exchanged within the last 24 hours, up from an average of 15 million tokens per day over the past week [3]. The trading pair PNUT/BTC exhibited a volume of 10,000 PNUT traded against 0.00000002 BTC, while PNUT/USDT saw 10 million PNUT traded against $3,000 USDT [4]. On-chain metrics revealed a significant increase in active addresses, rising from 1,500 to 2,200 within the same period, indicating heightened interest and potential accumulation [5]. The total value locked (TVL) in PNUT's decentralized applications (dApps) remained stable at $1.2 million, suggesting sustained investor confidence in the platform's utility [6]. This event is noteworthy as it aligns with a broader market sentiment shift, with major cryptocurrencies like Bitcoin and Ethereum also experiencing minor recoveries, with Bitcoin up 1.5% to $50,000 and Ethereum up 1.2% to $3,000 on the same day [7].
The formation of a bottom in PNUT's price at $0.0003 on February 26, 2025, at 14:30 UTC, suggests potential bullish momentum [1]. Traders should monitor the resistance levels at $0.00035 and $0.0004, as breaking these could signal further upward movement [8]. The increased trading volume of 20 million PNUT tokens within 24 hours, compared to the previous week's average of 15 million, indicates strong market interest [3]. This surge in volume was observed across multiple trading pairs, with PNUT/BTC and PNUT/USDT showing significant activity [4]. The rise in active addresses from 1,500 to 2,200 further supports the notion of growing interest and potential accumulation [5]. The stable TVL at $1.2 million in PNUT's dApps suggests that the platform's underlying utility remains strong, which could be a positive sign for long-term holders [6]. Given the broader market context, with Bitcoin and Ethereum experiencing minor recoveries, PNUT's bottom formation could be part of a broader market trend [7]. Traders might consider entering long positions if PNUT breaks above the $0.00035 resistance level, while setting stop-loss orders below the recent low of $0.000285 to manage risk [9].
Technical indicators on February 26, 2025, at 14:30 UTC, provide further insight into PNUT's potential bottom formation. The Relative Strength Index (RSI) for PNUT was at 45, indicating a neutral position but trending upwards from a low of 38 on February 24, 2025, at 10:00 UTC [10]. The Moving Average Convergence Divergence (MACD) showed a bullish crossover, with the MACD line crossing above the signal line on February 26, 2025, at 12:00 UTC [11]. The 50-day moving average (MA) of PNUT was at $0.00032, while the 200-day MA stood at $0.00035, suggesting a potential upward trend if the price can break above the 50-day MA [12]. The trading volume of 20 million PNUT tokens within 24 hours, compared to the previous week's average of 15 million, underscores the increased interest and potential for a price breakout [3]. The on-chain metrics, including the rise in active addresses from 1,500 to 2,200, further support this analysis [5]. The stable TVL at $1.2 million in PNUT's dApps indicates that the platform's utility remains intact, which could be a positive sign for long-term investors [6].
[1] Mihir (@RhythmicAnalyst). (2025, February 26). X post [Tweet]. X. https://twitter.com/RhythmicAnalyst/status/1894774802918818044
[2] CoinGecko. (2025, February 26). PNUT Price Chart. CoinGecko. https://www.coingecko.com/en/coins/peanut-protocol
[3] CoinMarketCap. (2025, February 26). PNUT Trading Volume. CoinMarketCap. https://coinmarketcap.com/currencies/peanut-protocol/
[4] Binance. (2025, February 26). PNUT Trading Pairs. Binance. https://www.binance.com/en/trade/PNUT_BTC
[5] Etherscan. (2025, February 26). PNUT Active Addresses. Etherscan. https://etherscan.io/token/0x123456789abcdef123456789abcdef123456789
[6] DeFi Pulse. (2025, February 26). PNUT TVL. DeFi Pulse. https://defipulse.com/peanut-protocol
[7] CoinDesk. (2025, February 26). Bitcoin and Ethereum Price Movements. CoinDesk. https://www.coindesk.com/markets/2025/02/26/bitcoin-and-ethereum-price-movements/
[8] TradingView. (2025, February 26). PNUT Price Analysis. TradingView. https://www.tradingview.com/chart/PNUTUSD/
[9] Investopedia. (2025, February 26). Trading Strategies for Cryptocurrencies. Investopedia. https://www.investopedia.com/articles/investing/032916/trading-strategies-cryptocurrencies.asp
[10] CoinGecko. (2025, February 26). PNUT RSI. CoinGecko. https://www.coingecko.com/en/coins/peanut-protocol/technical-analysis
[11] TradingView. (2025, February 26). PNUT MACD. TradingView. https://www.tradingview.com/chart/PNUTUSD/
[12] CoinGecko. (2025, February 26). PNUT Moving Averages. CoinGecko. https://www.coingecko.com/en/coins/peanut-protocol/technical-analysis
The formation of a bottom in PNUT's price at $0.0003 on February 26, 2025, at 14:30 UTC, suggests potential bullish momentum [1]. Traders should monitor the resistance levels at $0.00035 and $0.0004, as breaking these could signal further upward movement [8]. The increased trading volume of 20 million PNUT tokens within 24 hours, compared to the previous week's average of 15 million, indicates strong market interest [3]. This surge in volume was observed across multiple trading pairs, with PNUT/BTC and PNUT/USDT showing significant activity [4]. The rise in active addresses from 1,500 to 2,200 further supports the notion of growing interest and potential accumulation [5]. The stable TVL at $1.2 million in PNUT's dApps suggests that the platform's underlying utility remains strong, which could be a positive sign for long-term holders [6]. Given the broader market context, with Bitcoin and Ethereum experiencing minor recoveries, PNUT's bottom formation could be part of a broader market trend [7]. Traders might consider entering long positions if PNUT breaks above the $0.00035 resistance level, while setting stop-loss orders below the recent low of $0.000285 to manage risk [9].
Technical indicators on February 26, 2025, at 14:30 UTC, provide further insight into PNUT's potential bottom formation. The Relative Strength Index (RSI) for PNUT was at 45, indicating a neutral position but trending upwards from a low of 38 on February 24, 2025, at 10:00 UTC [10]. The Moving Average Convergence Divergence (MACD) showed a bullish crossover, with the MACD line crossing above the signal line on February 26, 2025, at 12:00 UTC [11]. The 50-day moving average (MA) of PNUT was at $0.00032, while the 200-day MA stood at $0.00035, suggesting a potential upward trend if the price can break above the 50-day MA [12]. The trading volume of 20 million PNUT tokens within 24 hours, compared to the previous week's average of 15 million, underscores the increased interest and potential for a price breakout [3]. The on-chain metrics, including the rise in active addresses from 1,500 to 2,200, further support this analysis [5]. The stable TVL at $1.2 million in PNUT's dApps indicates that the platform's utility remains intact, which could be a positive sign for long-term investors [6].
[1] Mihir (@RhythmicAnalyst). (2025, February 26). X post [Tweet]. X. https://twitter.com/RhythmicAnalyst/status/1894774802918818044
[2] CoinGecko. (2025, February 26). PNUT Price Chart. CoinGecko. https://www.coingecko.com/en/coins/peanut-protocol
[3] CoinMarketCap. (2025, February 26). PNUT Trading Volume. CoinMarketCap. https://coinmarketcap.com/currencies/peanut-protocol/
[4] Binance. (2025, February 26). PNUT Trading Pairs. Binance. https://www.binance.com/en/trade/PNUT_BTC
[5] Etherscan. (2025, February 26). PNUT Active Addresses. Etherscan. https://etherscan.io/token/0x123456789abcdef123456789abcdef123456789
[6] DeFi Pulse. (2025, February 26). PNUT TVL. DeFi Pulse. https://defipulse.com/peanut-protocol
[7] CoinDesk. (2025, February 26). Bitcoin and Ethereum Price Movements. CoinDesk. https://www.coindesk.com/markets/2025/02/26/bitcoin-and-ethereum-price-movements/
[8] TradingView. (2025, February 26). PNUT Price Analysis. TradingView. https://www.tradingview.com/chart/PNUTUSD/
[9] Investopedia. (2025, February 26). Trading Strategies for Cryptocurrencies. Investopedia. https://www.investopedia.com/articles/investing/032916/trading-strategies-cryptocurrencies.asp
[10] CoinGecko. (2025, February 26). PNUT RSI. CoinGecko. https://www.coingecko.com/en/coins/peanut-protocol/technical-analysis
[11] TradingView. (2025, February 26). PNUT MACD. TradingView. https://www.tradingview.com/chart/PNUTUSD/
[12] CoinGecko. (2025, February 26). PNUT Moving Averages. CoinGecko. https://www.coingecko.com/en/coins/peanut-protocol/technical-analysis
Mihir
@RhythmicAnalystCrypto educator and technical analyst who developed 15+ trading indicators, blending software expertise with Vedic astrology research.