- PNUT struggles below $0.241, testing $0.20 with bearish dominance confirmed by EMA alignments.
- ANIME trades below $0.0551, with $0.0450 support in focus as RSI stays oversold at 16.13.
- Both tokens require significant buyer interest to reclaim resistance levels and reverse bearish trends.
PNUT and Animecoin (ANIME) are struggling. Both tokens have fallen below key support levels, and traders are worried. There are not many buyers for either token, and selling continues. This slows down recovery.
PNUT’s Uphill Battle
PNUT token has dropped key support levels at $0.550 and $0.241. These levels now act as resistance. PNUT currently trades near $0.252. It is struggling to regain upward momentum.
The daily chart shows downward-sloping trendlines. This indicates a persistent bearish trend. Exponential moving averages (EMAs) confirm this trend. PNUT trades below the 20, 50, 100, and 200 EMAs. The 20 EMA at $0.296 acts as immediate resistance.
The RSI has dipped to 26. This suggests a potential short-term bounce. However, there are not many buyers, and trading volumes are low. This suggests the relief rally may be capped near $0.322. This is a critical resistance level. Without a decisive breakout, the token risks falling to its next support at $0.20.
Related: Solana’s PNUT Token Nears Key Support: Market Outlook
Related: Coinbase Lists Solana Meme PNUT: Will its Price Explode?
ANIME’s Continued Slump
ANIME has followed a similar path. It broke its key support at $0.0551 and currently trades at $0.0476. The token has not sustained any upward movement. It faces immediate resistance at $0.0551 and stronger resistance at $0.0585.
The 4-hour chart shows ANIME trading below all major EMAs. This signals strong downward momentum. The RSI is at 16.13. This suggests a possible short-term bounce. However, the MACD shows weak bullish divergence. This reinforces the bearish outlook.
If the bearish trend continues, ANIME could test lower support levels at $0.0450 and $0.0400. For a meaningful recovery, the token must reclaim $0.0551 and hold above $0.0585. However, there are not many buyers right now.
Market Outlook
Both PNUT and ANIME are in a tough spot with their charts showing strong bearish trends. The RSI suggests some short-term relief could happen. However, the overall market conditions are not likely to support a sustained recovery. There needs to be an increase in buyer interest for that to happen.
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