Trading Signals for PONKE
Action: Long and Short Positions (Based on Market Movement)
Entry Range:
- Long Entry: $0.3450 - $0.3600
- Short Entry: $0.3600 - $0.3700
Stop-Loss (SL):
- Long: $0.3420
- Short: $0.3740
Take Profit (TP):
- Long: $0.3700 - $0.4000
- Short: $0.3450 - $0.3200
Analysis:
PONKE has exhibited significant price volatility over the past 24 hours, with an 18.69% increase in price and trading volume surging by 200.15%. The volume-to-market-cap ratio of 11.97% indicates high liquidity, making it suitable for scalping.
The price is currently testing resistance at $0.3630 after rebounding from a support level near $0.3043. If the price consolidates around $0.3450-$0.3600, a breakout could occur. The RSI is neutral, suggesting no immediate overbought or oversold conditions.
For long positions, wait for a breakout above $0.3600 with confirmation on higher volume. Place stop-losses tightly at $0.3420 to limit risk. For short positions, watch for rejection near $0.3630-$0.3700, entering shorts with a stop-loss above $0.3740.