PONS PLUNGES THROUGH KEY SUPPORT 📉⚠️
The $PONS price ripped through the 4‑hour order block, sinking from the $0.703 high to a 24‑hour low barely above $0.574, a 15.8% drop in a single session 📉. Volume surged past $107 M, confirming aggressive sell pressure despite the asset’s recent ranking boost on CoinGecko.
The market is now probing the $0.57707 support zone that has anchored the last two pullbacks; a clean test could either cement a short‑term bottom or expose a deeper structural weakness ⚠️. Momentum oscillators have turned sharply negative, and the MACD histogram is compressing, suggesting the downtrend may still have runway. Liquidity on the sell side remains thin, and any further breach could trigger cascading liquidations across leveraged positions 🔻.
Given the prevailing bullish sentiment across the broader futures board, the $PONS decline appears more like a risk‑off rotation rather than a healthy retracement, leaving the next resistance at $0.69988 as a critical hurdle for any rebound 🚀.
Levels to monitor:
Watching support around $0.57707
Structure suggests resistance near $0.69988
Mid range area: $0.63880
DYOR
Follow for Updates
#PONS #GENERAL_ALTCOIN #CryptoTrending #BinanceSquare
The $PONS price ripped through the 4‑hour order block, sinking from the $0.703 high to a 24‑hour low barely above $0.574, a 15.8% drop in a single session 📉. Volume surged past $107 M, confirming aggressive sell pressure despite the asset’s recent ranking boost on CoinGecko.
The market is now probing the $0.57707 support zone that has anchored the last two pullbacks; a clean test could either cement a short‑term bottom or expose a deeper structural weakness ⚠️. Momentum oscillators have turned sharply negative, and the MACD histogram is compressing, suggesting the downtrend may still have runway. Liquidity on the sell side remains thin, and any further breach could trigger cascading liquidations across leveraged positions 🔻.
Given the prevailing bullish sentiment across the broader futures board, the $PONS decline appears more like a risk‑off rotation rather than a healthy retracement, leaving the next resistance at $0.69988 as a critical hurdle for any rebound 🚀.
Levels to monitor:
Watching support around $0.57707
Structure suggests resistance near $0.69988
Mid range area: $0.63880
DYOR
Follow for Updates
#PONS #GENERAL_ALTCOIN #CryptoTrending #BinanceSquare