$PONS sharp rejection from the highs indicates exhaustion, ideal time to initiate a short position here.
Entry: 0.6450 – 0.6550
TPs: 0.6200 | 0.5750 | 0.5300
SL: Above 0.7100
Why Short?
PONS is encountering strong selling pressure following a rejection near the 0.6992 peak, currently trading around 0.6499. The MACD histogram bars are flattening out while the lines converge, and the hourly RSI sits at a moderate 56.5, showing that the recent push has stalled and favoring a retracement toward the 0.6201 local support shelf.
Entry: 0.6450 – 0.6550
TPs: 0.6200 | 0.5750 | 0.5300
SL: Above 0.7100
Why Short?
PONS is encountering strong selling pressure following a rejection near the 0.6992 peak, currently trading around 0.6499. The MACD histogram bars are flattening out while the lines converge, and the hourly RSI sits at a moderate 56.5, showing that the recent push has stalled and favoring a retracement toward the 0.6201 local support shelf.
