PONS caught my attention today after jumping around 13% in 24 hours and pushing above $0.62.

Volume also crossed $105M.

Normally a move like this would make the breakout look obvious.

But I found one detail that made me slow down.

PONS is now approaching $0.64.

That level has been acting as the important resistance inside the current consolidation pattern. A clean break above it could change the structure and open the way toward $0.97.

Maybe even $1 later.

But getting there is not the same as holding the breakout.

The Accumulation Distribution indicator has started improving since September 13 which tells me short term buying pressure is getting stronger.

The problem is that the indicator is still deeply negative around -12.49M.

So buyers are improving but sellers have not disappeared.

The spot data gives a slightly different picture.

Around $9.58M worth of PONS was bought in the recent period while spot netflow was around -$931K over 24 hours.

Across ten days netflow was around -$9.74M.

That means more PONS left exchanges than entered them.

I find this interesting because lower exchange balances can reduce the amount of tokens immediately available for selling.

But I would not automatically call every withdrawal accumulation.

Tokens can leave exchanges for many reasons.

The price needs to confirm the demand.

MACD is also improving. The MACD line crossed above the signal line and is moving toward positive territory.

That gives the breakout setup some momentum.

Still there is a clear line between improving momentum and confirmed control.

For me $0.64 is that line.

If PONS breaks above $0.64 and actually holds it then $0.97 becomes the next level I would watch with $1 becoming realistic if momentum continues.

But if price gets rejected again then the recent 13% move could simply be another bounce inside the same range.

The setup is improving.

The conviction is not proven yet.

I would rather see PONS defend $0.64 than chase it while everyone is watching the $1 target.