In the fast-moving world of cryptocurrency, POND is in the spotlight as well-known crypto analyst World of Charts provides important information on its future direction. In a recent post on the X platform, the analyst pointed out that POND should clear a very important trendline to keep its upward movement.
World of Charts stated that the trendline is a major resistance level for POND. This is a way to go through with the breaking of this barrier and that would in turn lead to a considerable increase in price which might eventually reach $0. 05 mark.
POND Battles Crucial Trendline
The post was about the technical details, and it stressed that POND has had a hard time with this trendline in the past. The previous trials to overcome it have caused the cryptocurrency to stumble, but now the market is in a situation where this could be favorable. The analyst said that the break of this trendline would be a sign of strength and open up the way for bullish momentum.
At the moment, POND is being trading at $0.02191, marking a 7.64% price increase in the last 24 hours. The market sentiment on POND has been mixed, with the recent fluctuations creating both excitement and caution among investors. The analysts’ analysis is more reliable, it implies that the traders should be even more alert to the trendline. The next few trading days would show whether POND could find the needed power to break through this resistance.
Source: Chart by World of Charts
The analyst also talked about the wider consequences of this possible escape. A successful hack could draw the attention of new investors and thus, increase the trading volume which in turn would raise the price even more. Nevertheless, the expert cautioned that if token did not break through the trendline it would be in a consolidation phase where coin could just go sideways or even face downward pressure.
Since the market is keeping a close eye on it, in the next few days we will know if coin can penetrate and go towards $0.05 target is it going to be enough, or will it need another rally in the near future. The World of Charts’ analysis is a beacon for many in the crypto world who are trying to figure out the POND’s market movements.