Pond Coin (PNDC) Sees Decline, but Bulls Could Exploit Bullish Triangle for Gains
The value of Pond Coin (PNDC) has experienced a notable decline in the past 24 hours, currently sitting at $0.000001679, down 9% for the day. The trading volume for PNDC in the last 24 hours has also decreased by 30% to $1.6 million. This decrease in investor interest may affect the coin’s attempts at recovery.
However, despite the current decline, Pond Coin remains bullish in the longer timeframes, with a 40% increase in value compared to seven days ago. Many investors and traders believe that this dip is an opportunity to accumulate more PNDC and potentially profit from future price increases.
Pond Coin Bulls Could Exploit Bullish Triangle for 150% Gains
The price action of PNDC has resulted in the formation of an ascending triangle on the daily chart. This pattern occurs when an asset’s price shows a series of higher lows and relatively equal highs. Confirmation of this pattern comes with a decisive close above the resistance line of the triangle.
If PNDC can close above the triangle’s resistance line at $0.000002737, it could experience a breakout and potentially rise to the technical target of $0.000004430. This would represent a 157% climb from the current price.
Promising PNDC Alternatives
Bitcoin BSC (BTCBSC) is an innovative project that allows crypto investors to buy a BTC-like token at a cheaper price. BTCBSC shares similarities with Bitcoin but offers additional features such as staking rewards, eco-friendly mining practices, and integration with decentralized apps (dApps).
During the presale, BTCBSC is offering 29% of its total supply (6.125 million tokens) at $0.99 per token. The project is gaining traction, with over $230,000 raised in just a few days. After the presale, BTCBSC tokens can be traded on a BNB Smart Chain DEX.
Hot Take
While PNDC is currently experiencing a decline, there is potential for bullish gains if it can break out of the ascending triangle pattern. However, investors may also consider exploring alternative cryptocurrencies like BTCBSC, which offers similar tokenomics to Bitcoin with added features and potential for growth.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.