$PONS Short-term trading is clearly under pressure. The price has pulled back to about 0.6054 USDT. Over the past 24 hours, trading volume was approximately $59.12 million, and the market cap is about $419 million. This round of decline looks more like a resonance of three forces: early holders集中减仓止盈, weakening on-chain buy pressure on the Robinhood chain, and short sellers with significant unrealized profits continuing to suppress the price.
In the short term, if trading volume cannot be increased again, any rebound may still be used by shorts; however, as the profit-taking sell orders are gradually absorbed and on-chain funds flow back, there is also a chance for sentiment to recover. At the current level, it’s not advisable to blindly chase short positions. Focus instead on the persistence of buy-side support and signals that shorts are covering.
#PONS # Market analysis
In the short term, if trading volume cannot be increased again, any rebound may still be used by shorts; however, as the profit-taking sell orders are gradually absorbed and on-chain funds flow back, there is also a chance for sentiment to recover. At the current level, it’s not advisable to blindly chase short positions. Focus instead on the persistence of buy-side support and signals that shorts are covering.
#PONS # Market analysis