As the reversal rally retests the falling channel breakout, the chances of POND prices continuing the downfall increase dramatically. Key technical points: The market price has increased 5.21% over the past 24 hours. The retest candle shows a higher price rejection indicating a potential bearish continuation. The 24-hour trading volume of Marlin is $26.16 Million, indicating a hike of 200%. Past Performance of POND The rising channel pattern ranging from $0.0070 and $0.012 fails to continue the uptrend as the selling pressure grows and breaks the support trendline. The downtrend reaches the $0.0070 mark but reverses to retest the rising channel breakout. However, the higher price rejection in the retest candle hints at a downtrend continuation leading to a Doji formation. Source- Tradingview POND Technical Analysis POND prices show growth of bearish influence over the price trend as the selling pressure increases evident by the increase in trading volume supporting the fall. Hence, traders can find the prices retracing to the $0.0070 mark. The crucial Exponential Moving Averages – 50, 100, and 200-days maintain a falling trend with a bearish alignment selling spree gains momentum. With the bullish histograms crumbling to the zero line, the MACD and signal lines display a bearish crossover signaling a selling opportunity. However, the RSI slope shows a small V-shaped reversal struggling to surpass the 14-day average line. As a ...
