POND MARKET STRUCTURE ANALYSIS
It's worth noting that $POND is currently trading near the support zone of ~$0.001879, with a 24h change of -16.52% indicating a strong bearish momentum. The volume profile suggests a moderate decrease in buying pressure, with a 24h volume of $6.55M. I am tracking $POND closely as volume expands, it's currently hovering near the lower range of its current price action, and a potential bounce off the support zone shouldn't be ruled out.
I'm seeing $POND's funding rates are relatively neutral, which could indicate a potential shift in market structure, and I'm watching for a potential long entry above $0.002000, with a target of $0.002380, representing a 19% upside. The current price of $0.001920 is 12% below its mid range of $0.002380, and a clean breakout above this level could lead to a significant increase in buying pressure.
$POND