#PONDUSDT Forming Bullish Momentum#POND
The price is moving within a descending channel on the 1-hour timeframe and has reached the lower boundary. It is now poised for a bounce and is expected to retest this boundary.
The Relative Strength Index (RSI) indicates a downward trend, which is likely to continue due to overbought conditions.
A key support zone has been identified in green at 0. The price has bounced off this zone several times, making it a strong support level.
The price is trending towards the 100-period moving average, which we are approaching. This trend supports an upward move.
Entry Price: 0.00115
Target 1: 0.00125
Target 2: 0.00143
Target 3: 0.00166
You can close at the second target or wait for the third target to be reached. The choice is yours.
Stop Loss: At the resistance zone in green.
Remember this simple rule: Money Management.
Any questions? Please leave a comment.
Thank you.
PLong






















