$PONS is trading close to its lows, but could this quiet phase be setting up a recovery?
The chart shows a prolonged decline from $0.7781, with price now hovering around $0.2367 after recently testing $0.2160.
There is some stabilization, but the bigger trend remains bearish with the daily Supertrend still sitting well above price at $0.3509.
Key levels to watch:
Support: $0.2263 to $0.2160
Resistance: $0.2484
Major resistance: $0.3509
A break above $0.2484 would be the first positive sign. Reclaiming $0.3509 would make the recovery structure much more convincing.
PONS needs to show buyers can sustain momentum before calling a trend reversal.
#Write2Earn #pons
The chart shows a prolonged decline from $0.7781, with price now hovering around $0.2367 after recently testing $0.2160.
There is some stabilization, but the bigger trend remains bearish with the daily Supertrend still sitting well above price at $0.3509.
Key levels to watch:
Support: $0.2263 to $0.2160
Resistance: $0.2484
Major resistance: $0.3509
A break above $0.2484 would be the first positive sign. Reclaiming $0.3509 would make the recovery structure much more convincing.
PONS needs to show buyers can sustain momentum before calling a trend reversal.
#Write2Earn #pons
