This chart shows $POND /USDT on a 30-minute timeframe with a significant upward price movement of 20.92% in 24 hours.
The current price is $0.02347, near the daily high of $0.02399, indicating strong bullish momentum. The trading volume is high, supporting this upward trend.
Analysis:
1. Long Entry: If the price breaks above the resistance level at $0.02400 with strong volume, it could signal further upside. Enter long above $0.02400.
Target: $0.02550 (short-term) and $0.02700 (medium-term).
Stop Loss: Place it below the breakout point at $0.02310 to manage risk.
2. Short Entry: If the price rejects $0.02400 and starts to decline, it may suggest a pullback.
Target: $0.02200 (first target) and $0.02100 (second target).
Stop Loss: Place it above the resistance at $0.02410.
Conclusion:
The bullish momentum is strong, but entering long at the current price may carry risk unless a breakout occurs. Watch closely for signs of rejection or continuation to decide the best strategy. Always stick to risk management principles and adjust your position size accordingly.