PONS 4-Hour: Consolidating at Low Levels, Bearish Structure Unchanged
PONS is currently at 0.2765, with resistance above at 0.3016.
After a sharp decline earlier, the price entered a low-level consolidation and remains below all moving averages, so the overall structure is still bearish. For a short-term turnaround, it first needs to break above 0.3016.
Keep a close eye on 0.2756 below; a break beneath it could lead to further declines. On the news front, continued selling pressure across the Robinhood ecosystem is weighing on the market.
#BTC #ZEC #PONS
PONS is currently at 0.2765, with resistance above at 0.3016.
After a sharp decline earlier, the price entered a low-level consolidation and remains below all moving averages, so the overall structure is still bearish. For a short-term turnaround, it first needs to break above 0.3016.
Keep a close eye on 0.2756 below; a break beneath it could lead to further declines. On the news front, continued selling pressure across the Robinhood ecosystem is weighing on the market.
#BTC #ZEC #PONS