$PNUT Surges 280% as Analysts Target $1.79 and Highlight Key Bullish Trade Setups

$PNUT breaks 150-day downtrend, soaring 280% as volume and structural signals confirm bullish strength.

Experts project $PNUT targets $1.79, with a potential 414% upside, despite short-term pullback risks.

Descending wedge setup suggests a 14.94% upside trade with a 3:1 reward-to-risk ratio near $0.3465.

Peanut The Squirrel ($PNUT) has reversed its long-term trend after months of downward pressure and stagnant consolidation. Price action now reflects bullish strength, with volume and structural signals supporting a potential extended rally.

In mid-April, $PNUT climbed out of a descending trend that held for nearly 150 days. The breakout marks a decisive change in direction, according to Javon Marks, who has provided additional insights into the token’s reversal. The analyst observed a clean breach of a multi-swing resistance line that had repeatedly rejected price rallies. This break, beginning near $0.2800, was followed by a sharp 280% move upward, reinforcing bullish conviction.

The chart shows that selling pressure started to decline during the consolidation phase. Volume trended lower as prices moved sideways, signaling weakening bearish influence. Once the breakout occurred, volume surged alongside the price, reflecting renewed market participation and interest. The analyst also pointed out that price action remained firm after the breakout, showing strong follow-through from buyers.

Marks has presented a comparative analysis between the downtrend and the recent move, highlighting a trend reversal supported by volume behavior. The breakout now sets a target at $1.7907, representing a possible 414% upside from the current price range. However, the chart now reflects a short-term pullback, suggesting the possibility of a support retest before the next move.

Wedge Formation Suggests Short-Term Trade Opportunity

Based on current market conditions, RHT is offering additional insights on short-term positioning through a descending wedge setup. The analysis focuses on price compression within the wedge and provides a structured trade idea with risk controls.

Source: RHT

RHT notes that $PNUT is currently trading near $0.3465 within a wedge formation on the 1-hour chart. The setup identifies converging trendlines that indicate consolidation and reduced volatility. According to the analyst, volume patterns support the likelihood of an imminent breakout.

The entry point is marked at $0.3466 with a stop-loss at $0.3288, representing a 4.97% risk level. The expert targets $0.3977, showing a potential 14.94% upside. This trade offers a favorable 3:1 reward-to-risk ratio.

The wedge’s narrowing structure and key support near $0.3460 act as signals for directional breakout potential. RHT also highlighted the open P&L metrics and market indecision shown through tight range-bound trading. The setup suggests either a bullish breakout or a continuation within the current pattern, depending on upcoming price reactions.

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