A 45% pop and the 4H chart is already rolling over. Something’s off under the hood.
$PNT ripped from the low 0.02s to 0.035 in one violent squeeze — but the follow-through looks exhausted. That last 4H candle tagged the high and stalled exactly at current price. No new buyers stepping in.
The 4H EMA7 is still buried under the EMA25 — classic bearish structure. RSI sitting near 40 means there’s room to fall before anything screams oversold. And the volume profile’s heaviest traded zone sits way up at 0.050. Translation: most of this recent action is trapped above current price. That’s a ceiling, not support.
The level that matters is the ~0.037 area on $PNT. That’s the invalidation line — lose it on a 4H close and the bearish read is off the table. Until then, the path of least resistance points toward the ~0.032 zone, with the swing picture eyeing a deeper flush near 0.030.
My read: this is a pump that found no legs. The bounce off the 24H low looks like short-covering, not accumulation. Real risk sits to the downside until price reclaims the mid-0.03s with volume.
Tap $PNT to pull up the chart and see how clean that rejection looks. I’ll be watching whether the 0.037 ceiling holds — follow for the update if this structure breaks.
What level are you watching on PNT right now? 👇
⚠️ Not financial advice. DYOR.
#PNT #Crypto #BinanceSquare
$PNT ripped from the low 0.02s to 0.035 in one violent squeeze — but the follow-through looks exhausted. That last 4H candle tagged the high and stalled exactly at current price. No new buyers stepping in.
The 4H EMA7 is still buried under the EMA25 — classic bearish structure. RSI sitting near 40 means there’s room to fall before anything screams oversold. And the volume profile’s heaviest traded zone sits way up at 0.050. Translation: most of this recent action is trapped above current price. That’s a ceiling, not support.
The level that matters is the ~0.037 area on $PNT. That’s the invalidation line — lose it on a 4H close and the bearish read is off the table. Until then, the path of least resistance points toward the ~0.032 zone, with the swing picture eyeing a deeper flush near 0.030.
My read: this is a pump that found no legs. The bounce off the 24H low looks like short-covering, not accumulation. Real risk sits to the downside until price reclaims the mid-0.03s with volume.
Tap $PNT to pull up the chart and see how clean that rejection looks. I’ll be watching whether the 0.037 ceiling holds — follow for the update if this structure breaks.
What level are you watching on PNT right now? 👇
⚠️ Not financial advice. DYOR.
#PNT #Crypto #BinanceSquare