+45.23% in a day — and every higher timeframe is still pointing down.
The 4H chart shows a classic pump-and-fade. That 16:00 spike gave back nearly all of it within two candles. Price sits at 0.035, but EMA7 at 0.0377 is sloping hard below EMA25 at 0.0452. That's a relief bounce, not strength.
RSI is 40 — not oversold, not recovering. ATR still elevated at 0.0089. Volume profile POC sits up at 0.050: overhead supply, not support.
Daily is worse. EMA7 at 0.0468 vs EMA25 at 0.0969 — nearly a 50% gap. RSI at 27.65 is deeply oversold, but oversold in a downtrend just means fragile bounces. The bearish FVG between 0.126 and 0.172 is a massive unfilled gap above.
Funding flat, open interest zero — no futures, no leverage to squeeze. Purely spot-driven, 62% daily range. That's a recipe for violent reversals.
Key zone on the 4H is 0.0369. If $PNT can't reclaim and hold it, path of least resistance points toward 0.032. Lose that, and the daily structure opens the door to 0.030.
Tap $PNT and look at the 4H chart yourself — the rejection wicks tell the story.
My read: the bounce is real but the trend is not your friend here. Risk sits with anyone chasing green candles into overhead resistance.
I'll update if the 0.037 area flips from resistance to support.
What level are you watching most closely on $PNT right now? 👇
Follow for the next read on this chart.
⚠️ Not financial advice. DYOR.
#PNT #Crypto #BinanceSquare #Altcoins
The 4H chart shows a classic pump-and-fade. That 16:00 spike gave back nearly all of it within two candles. Price sits at 0.035, but EMA7 at 0.0377 is sloping hard below EMA25 at 0.0452. That's a relief bounce, not strength.
RSI is 40 — not oversold, not recovering. ATR still elevated at 0.0089. Volume profile POC sits up at 0.050: overhead supply, not support.
Daily is worse. EMA7 at 0.0468 vs EMA25 at 0.0969 — nearly a 50% gap. RSI at 27.65 is deeply oversold, but oversold in a downtrend just means fragile bounces. The bearish FVG between 0.126 and 0.172 is a massive unfilled gap above.
Funding flat, open interest zero — no futures, no leverage to squeeze. Purely spot-driven, 62% daily range. That's a recipe for violent reversals.
Key zone on the 4H is 0.0369. If $PNT can't reclaim and hold it, path of least resistance points toward 0.032. Lose that, and the daily structure opens the door to 0.030.
Tap $PNT and look at the 4H chart yourself — the rejection wicks tell the story.
My read: the bounce is real but the trend is not your friend here. Risk sits with anyone chasing green candles into overhead resistance.
I'll update if the 0.037 area flips from resistance to support.
What level are you watching most closely on $PNT right now? 👇
Follow for the next read on this chart.
⚠️ Not financial advice. DYOR.
#PNT #Crypto #BinanceSquare #Altcoins
