Something looks very different about $POND today.
I've been staring at this 1D chart and it feels like the bleeding might finally be slowing down. We've been in a heavy downtrend for a while now, but look at the last few candles near $0.0023. It’s starting to move sideways instead of just falling off a cliff. The volume is sitting at 142M which isn't massive, but it's enough to show people are actually watching this level. We have a clear support zone around $0.0022. If we lose that, then it’s back to the basement. I’m watching for a break above $0.0025 to see if this is a real reversal or just a tiny pause before another drop. The sellers are still putting up a fight though, with about 55% of the order book on the ask side.
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Something looks very different about $POND today.
I've been staring at this 1D chart and it feels like the bleeding might finally be slowing down. We've been in a heavy downtrend for a while now, but look at the last few candles near $0.0023. It’s starting to move sideways instead of just falling off a cliff.
The volume is sitting at 142M which isn't massive, but it's enough to show people are actually watching this level. We have a clear support zone around $0.0022. If we lose that, then it’s back to the basement.
I’m watching for a break above $0.0025 to see if this is a real reversal or just a tiny pause before another drop. The sellers are still putting up a fight though, with about 55% of the order book on the ask side.
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