+45% in 24 hours.
But the 4-hour chart tells a different story — a 62% range where the only thing consistent is lower highs.
$PNT is currently sitting near the 0.035 area, right where the last green candle closed. The structure on the 4H remains bearish. Price is below both short-term EMAs, RSI is hovering near 40 — not oversold, just weak. The volume spike came early, then faded. That’s distribution, not accumulation.
The cleanest read is the 4H picture. The pivot sits around the 0.035 zone. If that holds as resistance, the path of least resistance points toward the low 0.032 area. Invalidation is simple: a 4H close back above roughly 0.037 and the bearish structure starts to break down.
The daily is even heavier — RSI at 27, price trading miles below the 0.096 area. Bounces here are sharp but short-lived. The broader trend hasn’t turned.
My read: this is a momentum fade, not a trend reversal. The real risk is assuming the green 24-hour number means strength. It’s a bounce inside a downtrend.
Tap $PNT to pull up the chart and check the 0.035 pivot yourself. I’ll keep tracking whether that level rejects or flips — follow for the updated read.
Which level are you watching on $PNT — the 0.035 pivot or the 0.032 extension? 👇
⚠️ Not financial advice. DYOR.
#PNT #Crypto #BinanceSquare