$0.9710 hangs there like a nail.
$PONS has fallen from its peak to $0.412, down 57.55%. The point after being cut in half is where you’re most likely to get itchy fingers—that’s the anchor trap: you’re focused not on what it’s worth now, but on what it used to be worth.
What really made me stop was the trading volume. Daily volume was still $231M on September 7; now it’s down to just $37.5M, a drop of more than 80%. The price slid from $0.845 to $0.41—not like a panic sell-off, but more like liquidity being slowly drained away, until the market couldn’t be bothered to price it anymore. Today’s +6.96% looks nice, but the 24-hour high of $0.412851 is almost exactly the current price—the rebound barely touched the intraday high before buying dried up.
My read:
$PONS is now in a state where it’s not falling much further, but nobody’s in a hurry to buy either. Its $280M market cap and
#162 ranking show it still has some heft, and the narrative isn’t dead, but a 30-day drop of 54% means there’s overhead supply at every level. The confirmation signal isn’t a single green candle; it’s whether volume can climb back above $80M and stay there for a few days.
The opposite case holds too: if this is another leg down in a liquidity retreat, the intraday low of $0.36 is just the next step down. A slow bleed on low volume is the most gruelling kind—it gives you no clear reason to stop out.
That’s the dilemma: wait for volume to confirm before entering, or bet that this is the sentiment bottom and get in early, knowing you may have to stomach a drawdown? I lean toward the former, but plenty of people are already going with the latter.