That +45% candle is a mirage. Price ran to 0.0657, got rejected in one 4H bar, and has been bleeding ever since. The only thing keeping this green on the day is a dead-cat bounce from 0.0215 back to 0.035. That is not strength. That is a liquidation wick with extra steps.
$PNT is in a downtrend on every timeframe that matters. 4H price is pinned below both moving averages, RSI barely off the floor. Daily RSI at 27 — this bounce has convinced no one with real size. Futures are a ghost town: zero funding, zero open interest. Not a squeeze setup. A coin nobody wants to touch with leverage.
Key levels: 4H pivot ~0.035, where price is flirting. Invalidation just above at ~0.037 — a 4H close above that and the bounce has legs. Failure there opens 0.032, where this bounce either finds a floor or rolls over. Tap $PNT to see how clean that rejection from 0.065 really was.
My read: long-term structure is broken, this bounce is selling pressure waiting to resume. Only risk to the bearish view is a sudden reclaim of 0.037, signaling real defense.
What level are you watching on $PNT right now? 👇
Not financial advice. DYOR.
Follow for the next read on this chart.
#PNT #Crypto #BinanceSquare #Altcoins
$PNT is in a downtrend on every timeframe that matters. 4H price is pinned below both moving averages, RSI barely off the floor. Daily RSI at 27 — this bounce has convinced no one with real size. Futures are a ghost town: zero funding, zero open interest. Not a squeeze setup. A coin nobody wants to touch with leverage.
Key levels: 4H pivot ~0.035, where price is flirting. Invalidation just above at ~0.037 — a 4H close above that and the bounce has legs. Failure there opens 0.032, where this bounce either finds a floor or rolls over. Tap $PNT to see how clean that rejection from 0.065 really was.
My read: long-term structure is broken, this bounce is selling pressure waiting to resume. Only risk to the bearish view is a sudden reclaim of 0.037, signaling real defense.
What level are you watching on $PNT right now? 👇
Not financial advice. DYOR.
Follow for the next read on this chart.
#PNT #Crypto #BinanceSquare #Altcoins