Most traders see a bounce from multi-month lows and assume the worst is over, but in the last bear cycle over 65 percent of those altcoin recoveries failed to hold once the Supertrend remained bearish.
It is painful watching $PONS grind lower for weeks only to FOMO into the first green candle and get trapped when resistance rejects the move. That fear of missing out has cost more traders their capital than any rug pull.
$PONS currently sits at $0.419 after a strong daily bounce off the $0.3639 low, and buyers have defended it well so far. Yet the daily Supertrend still points down at $0.6376, making this a classic recovery attempt rather than a confirmed trend change. I remember similar setups in 2021 where tokens bounced hard even as $BTC and $ETH showed strength only to roll over again.
Immediate support is clustered between $0.38 and $0.40, with the recent low at $0.3639 acting as the last line of defense. On the upside, $0.475 to $0.50 is the first real test, followed by the major zone at $0.61 to $0.64. Until $PONS can reclaim that Supertrend level with conviction, the path of least resistance stays down, just like we saw with so many alts during the 2022 winter.
Patience is the edge in these markets.
How are you positioning around these potential recovery plays?
#PONS #CryptoTrading #MarketCycles
It is painful watching $PONS grind lower for weeks only to FOMO into the first green candle and get trapped when resistance rejects the move. That fear of missing out has cost more traders their capital than any rug pull.
$PONS currently sits at $0.419 after a strong daily bounce off the $0.3639 low, and buyers have defended it well so far. Yet the daily Supertrend still points down at $0.6376, making this a classic recovery attempt rather than a confirmed trend change. I remember similar setups in 2021 where tokens bounced hard even as $BTC and $ETH showed strength only to roll over again.
Immediate support is clustered between $0.38 and $0.40, with the recent low at $0.3639 acting as the last line of defense. On the upside, $0.475 to $0.50 is the first real test, followed by the major zone at $0.61 to $0.64. Until $PONS can reclaim that Supertrend level with conviction, the path of least resistance stays down, just like we saw with so many alts during the 2022 winter.
Patience is the edge in these markets.
How are you positioning around these potential recovery plays?
#PONS #CryptoTrading #MarketCycles
