$PONS is up 8.97% today, but I don’t think this is a rebound. Looking at the bigger picture, it’s down 45.9% over 30 days, and still negative over 7 days. In the context of the broader downtrend, this one daily green candle looks more like a slowdown than a reversal. On October 15, trading volume rose to $91M, but the price closed at just $0.33 that day—it couldn’t even reclaim the previous $0.35–$0.37 congestion zone. The fact that volume surged but the price couldn’t push higher is what the market is really telling us right now.
This leg down from a high of $0.68 to $0.28 has seen every rebound interrupted by declines accompanied by volume. Now $0.34 is stuck in an awkward spot: it’s still 64.79% below the ATH, but very close to the most recent zone where holders are underwater. To move higher, it needs sustained volume to break through $0.35–$0.37. To the downside, if it breaks below $0.30, the previous low at $0.28 may not hold.
What I care about more is who was on the other side of that $91M in volume on October 15. If it was just short-term money betting on an oversold daily chart, that volume won’t be enough to form a bottom. If it was investors positioning on the belief that $0.28 was the cycle low, then we should see volume taper off on a retest and pick up again on the next push higher.
So I’d like to ask you all: What would it take for you to believe this downtrend is over? Holding above $0.37, or volume staying above $70M for three consecutive days, or some other on-chain signal?
This leg down from a high of $0.68 to $0.28 has seen every rebound interrupted by declines accompanied by volume. Now $0.34 is stuck in an awkward spot: it’s still 64.79% below the ATH, but very close to the most recent zone where holders are underwater. To move higher, it needs sustained volume to break through $0.35–$0.37. To the downside, if it breaks below $0.30, the previous low at $0.28 may not hold.
What I care about more is who was on the other side of that $91M in volume on October 15. If it was just short-term money betting on an oversold daily chart, that volume won’t be enough to form a bottom. If it was investors positioning on the belief that $0.28 was the cycle low, then we should see volume taper off on a retest and pick up again on the next push higher.
So I’d like to ask you all: What would it take for you to believe this downtrend is over? Holding above $0.37, or volume staying above $70M for three consecutive days, or some other on-chain signal?