It is up 45 percent on the day and still trading 40 percent below the weekly open. That is not a pump. That is a dead-cat bounce inside a liquidation cascade, and the chart is screaming it.
Daily RSI is buried near 27, 4-hour EMAs in freefall. Price printed a 35 percent green candle, then gave back 24 percent in the next. That whipsaw is trapped sellers exiting at any bid — not accumulation. Weekly EMA7 sits near 0.108 while price fights to hold 0.035. A 70 percent gap.
The only timeframe that matters is the 4-hour. The invalidation is clean: if $PNT cannot reclaim the 0.037 area, the path of least resistance stays down toward the 0.032 zone. Lose that and the next shelf is the 24-hour low near 0.0215. Volume profile point of control sits up at 0.050 — most of the last two days of trading happened at levels price is nowhere near. Textbook overhang. Every bounce into 0.037–0.038 is likely to get sold until that changes.
My read: a falling knife with a short-term oversold bounce attached. The 45 percent gain looks impressive on a screener, but the structure underneath is broken. The real risk is not missing the next leg up — it is catching a bounce that fails at the first resistance zone.
I will post an updated read if $PNT starts holding above the 0.037 area on a 4-hour close — follow so it lands on your feed. What level are you watching on this one? 👇
Not financial advice. DYOR.
#PNT #Crypto #BinanceSquare
Daily RSI is buried near 27, 4-hour EMAs in freefall. Price printed a 35 percent green candle, then gave back 24 percent in the next. That whipsaw is trapped sellers exiting at any bid — not accumulation. Weekly EMA7 sits near 0.108 while price fights to hold 0.035. A 70 percent gap.
The only timeframe that matters is the 4-hour. The invalidation is clean: if $PNT cannot reclaim the 0.037 area, the path of least resistance stays down toward the 0.032 zone. Lose that and the next shelf is the 24-hour low near 0.0215. Volume profile point of control sits up at 0.050 — most of the last two days of trading happened at levels price is nowhere near. Textbook overhang. Every bounce into 0.037–0.038 is likely to get sold until that changes.
My read: a falling knife with a short-term oversold bounce attached. The 45 percent gain looks impressive on a screener, but the structure underneath is broken. The real risk is not missing the next leg up — it is catching a bounce that fails at the first resistance zone.
I will post an updated read if $PNT starts holding above the 0.037 area on a 4-hour close — follow so it lands on your feed. What level are you watching on this one? 👇
Not financial advice. DYOR.
#PNT #Crypto #BinanceSquare
