A 62% range in one day and it still can’t hold a bid above 0.035. That’s not strength. That’s a coin gasping for air between sell waves.
$PNT tagged 0.065 on a 35% four-hour candle, then gave back nearly half of it within eight hours. The 4H structure is a series of lower highs — 0.065, then 0.048, now price is pinned near 0.035 with the EMA7 sloping under the EMA25. RSI is at 40, not oversold enough to scream for a bounce. Daily RSI is 27, but the weekly EMA7 is still miles above price around 0.108. That’s a lot of overhead supply.
Price is hovering just under the invalidation zone near 0.037. As long as it stays below that, the path of least resistance points toward 0.032. Lose that, and there’s no meaningful support until the low 0.02s. The volume profile shows the heaviest traded price was near 0.05 — most recent activity is trapped above. That’s a ceiling, not a floor.
This looks like a relief pop inside a larger breakdown, not a new trend. Every bounce has been sold hard for two days straight.
If $PNT can’t reclaim the 0.037 area on a 4H close, this unwind likely isn’t done. Tap $PNT to pull up the chart and walk these levels yourself. Which zone are you trusting more — 0.032 or 0.037?
Not financial advice. DYOR.
Follow for the next read on this chart.
#PNT #Crypto #Altcoins #BinanceSquare
$PNT tagged 0.065 on a 35% four-hour candle, then gave back nearly half of it within eight hours. The 4H structure is a series of lower highs — 0.065, then 0.048, now price is pinned near 0.035 with the EMA7 sloping under the EMA25. RSI is at 40, not oversold enough to scream for a bounce. Daily RSI is 27, but the weekly EMA7 is still miles above price around 0.108. That’s a lot of overhead supply.
Price is hovering just under the invalidation zone near 0.037. As long as it stays below that, the path of least resistance points toward 0.032. Lose that, and there’s no meaningful support until the low 0.02s. The volume profile shows the heaviest traded price was near 0.05 — most recent activity is trapped above. That’s a ceiling, not a floor.
This looks like a relief pop inside a larger breakdown, not a new trend. Every bounce has been sold hard for two days straight.
If $PNT can’t reclaim the 0.037 area on a 4H close, this unwind likely isn’t done. Tap $PNT to pull up the chart and walk these levels yourself. Which zone are you trusting more — 0.032 or 0.037?
Not financial advice. DYOR.
Follow for the next read on this chart.
#PNT #Crypto #Altcoins #BinanceSquare
