A 45% pump on a coin that just printed a 21% red candle four hours ago. That is not momentum. That is a dead cat bouncing in a bear flag.
$PNT is not building a base here. It is bleeding lower on every timeframe, and the bounce you are seeing right now is the kind that fades before most people even finish their coffee. The 4H chart shows price pinned under the 0.0369 area, with the EMA7 sloping down hard below the EMA25. RSI is at 40 — not oversold enough to mean anything, just weak.
The levels that matter are simple. If $PNT cannot reclaim the 0.0369 zone on a 4H close, this read stays bearish and the path of least resistance points toward the 0.032 area. Lose that and the daily chart opens the door to the 0.030 zone. Tap $PNT to pull up the chart and read these levels yourself.
My read: this is a bounce inside a downtrend, not a reversal. The risk is chasing green candles on a coin that has been making lower highs for days.
The 0.0369 level is the line I am watching. If PNT starts closing above it, the picture changes fast. What zone are you watching on this chart? 👇
Not financial advice. DYOR.
Follow for the next read on this chart.
#PNT #Crypto #Altcoins #BinanceSquare
$PNT is not building a base here. It is bleeding lower on every timeframe, and the bounce you are seeing right now is the kind that fades before most people even finish their coffee. The 4H chart shows price pinned under the 0.0369 area, with the EMA7 sloping down hard below the EMA25. RSI is at 40 — not oversold enough to mean anything, just weak.
The levels that matter are simple. If $PNT cannot reclaim the 0.0369 zone on a 4H close, this read stays bearish and the path of least resistance points toward the 0.032 area. Lose that and the daily chart opens the door to the 0.030 zone. Tap $PNT to pull up the chart and read these levels yourself.
My read: this is a bounce inside a downtrend, not a reversal. The risk is chasing green candles on a coin that has been making lower highs for days.
The 0.0369 level is the line I am watching. If PNT starts closing above it, the picture changes fast. What zone are you watching on this chart? 👇
Not financial advice. DYOR.
Follow for the next read on this chart.
#PNT #Crypto #Altcoins #BinanceSquare
