What happens when a coin is up 45% in a day, yet every single timeframe still reads bearish?
That’s the exact question hanging over $PNT right now.
Price tagged 0.035 after a violent round-trip — up 35% in one 4H candle, then down 24% the next. That’s not trending. That’s churning. Daily RSI is near 27. Oversold doesn’t mean bottom — in a weak structure, it can stay oversold for a long time.
On the 4H, short-term EMAs are stacked bearish, and momentum keeps getting rejected before turning neutral. No unfilled gap below means this isn’t fresh discovery — it’s a revisit.
The level that matters: as long as $PNT stays below 0.037, the path of least resistance leans toward 0.032. A 4H close back above 0.037 would tell me the bearish read is wrong. Tap $PNT to see that rejection zone.
My read: high volatility in a downtrend. The 45% pump is mostly noise until 0.037 is reclaimed. Chasing the green candle is the real risk.
I’ll track whether 0.037 breaks or rejects — follow me for the update.
What level are you watching more closely on PNT — 0.032 or 0.037? 👇
⚠️ Not financial advice. DYOR.
#PNT #Crypto #Altcoins #BinanceSquare
That’s the exact question hanging over $PNT right now.
Price tagged 0.035 after a violent round-trip — up 35% in one 4H candle, then down 24% the next. That’s not trending. That’s churning. Daily RSI is near 27. Oversold doesn’t mean bottom — in a weak structure, it can stay oversold for a long time.
On the 4H, short-term EMAs are stacked bearish, and momentum keeps getting rejected before turning neutral. No unfilled gap below means this isn’t fresh discovery — it’s a revisit.
The level that matters: as long as $PNT stays below 0.037, the path of least resistance leans toward 0.032. A 4H close back above 0.037 would tell me the bearish read is wrong. Tap $PNT to see that rejection zone.
My read: high volatility in a downtrend. The 45% pump is mostly noise until 0.037 is reclaimed. Chasing the green candle is the real risk.
I’ll track whether 0.037 breaks or rejects — follow me for the update.
What level are you watching more closely on PNT — 0.032 or 0.037? 👇
⚠️ Not financial advice. DYOR.
#PNT #Crypto #Altcoins #BinanceSquare