Pons [PONS] gained 13% in 24 hours, trading above $0.62. Trading volume also crossed $105 million. The rebound followed PONS’ reaction from the support zone of a bullish continuation pattern.
Such patterns emerge after a strong rally enters a consolidation phase before potentially resuming its previous direction.
During the early hours of the 14th of September, PONS rebounded from the pattern’s lower support. It then approached the descending resistance line and the critical horizontal level near $0.64.
Can PONS break above $0.64?
PONS’ recent pullback did not invalidate the bullish setup.
A confirmed break above resistance could push the token toward $0.97. Sustained momentum may then bring $1 within reach.
However, rejection from this level could extend the consolidation. PONS may consequently retreat toward the pattern’s lower boundary. The indicators presented a similarly divided picture.
The Accumulation/Distribution (A/D) indicator had risen since the 13th of September, reflecting stronger short-term buying pressure.
Even so, the A/D remained negative at -12.49 million. Sellers therefore retained broader control despite the recent recovery.
Meanwhile, the Moving Average Convergence Divergence (MACD) strengthened. The blue MACD line crossed above the orange signal line and moved toward positive territory.
A positive crossover could reinforce the breakout case. Until then, the indicator reflects improving momentum rather than complete bullish control.
Are spot buyers accumulating PONS?
Spot Market Netflow reached -$931,000 over 24 hours, while spot purchases totaled approximately $9.58 million. CoinGlass data also showed Spot Market Netflow of -$9.74 million across ten days.
Negative Spot Market Netflow indicated that more PONS left exchanges than entered them.
Such withdrawals may reduce immediately available selling supply. However, Netflow data alone cannot confirm investors’ holding intentions.
Continued outflows could support a breakout. Still, buyers must defend $0.64 before PONS can realistically challenge $0.97 and $1.
Final Summary
- PONS gained 13% and approached the critical $0.64 resistance level.
- Improving MACD suggested stronger momentum, although the negative A/D still favored sellers.
