$PNT is up 45% on the day — and still trading 30% below where it was 48 hours ago. That’s not strength. That’s a bounce inside a bleed.
The 4H candles tell the real story. A violent wick to the 65K-equivalent zone got sold off within one candle, then a slow bleed carved out lower highs for the next 24 hours. Now price sits pinned under the EMA7, RSI is limp near 40, and the 24h range expanded to 62% while volume stayed thin. Classic pump-and-fade anatomy.
My read: the level that matters most is the 0.037 area on the 4H. That’s where the last breakdown got rejected — and where this bounce likely stalls if it can’t reclaim it. Below that, the objective zone sits around 0.032, right where the most recent 4H close found a floor before the final flush. If price loses the 0.032 area on a 4H close, the next leg likely revisits the 0.022–0.026 zone where the 24h low printed.
The invalidation is clean: a 4H close back above 0.037 flips this read off the table. Until then, every push higher looks like trapped liquidity, not conviction. Tap $PNT and check the 4H structure yourself — the rejection candles are loud.
What level are you watching on $PNT — the 0.037 reclaim or the 0.032 breakdown? 👇
Follow for the next read on this chart.
⚠️ Not financial advice. DYOR.
#PNT #Crypto #BinanceSquare
The 4H candles tell the real story. A violent wick to the 65K-equivalent zone got sold off within one candle, then a slow bleed carved out lower highs for the next 24 hours. Now price sits pinned under the EMA7, RSI is limp near 40, and the 24h range expanded to 62% while volume stayed thin. Classic pump-and-fade anatomy.
My read: the level that matters most is the 0.037 area on the 4H. That’s where the last breakdown got rejected — and where this bounce likely stalls if it can’t reclaim it. Below that, the objective zone sits around 0.032, right where the most recent 4H close found a floor before the final flush. If price loses the 0.032 area on a 4H close, the next leg likely revisits the 0.022–0.026 zone where the 24h low printed.
The invalidation is clean: a 4H close back above 0.037 flips this read off the table. Until then, every push higher looks like trapped liquidity, not conviction. Tap $PNT and check the 4H structure yourself — the rejection candles are loud.
What level are you watching on $PNT — the 0.037 reclaim or the 0.032 breakdown? 👇
Follow for the next read on this chart.
⚠️ Not financial advice. DYOR.
#PNT #Crypto #BinanceSquare