PONKE Breakout Imminent? Key Levels to Watch!Yello, Paradisers! Could #PONKE be gearing up for a powerful breakout, or is there more consolidation ahead? Let's break it down.
💎#PONKEUSDT has just broken out of a 70-session consolidation range and is now trading within an extended falling wedge pattern, signaling that the ongoing pause could soon come to an end.
💎Bulls might soon regain control, especially if we see a clean breakout above the wedge resistance. If this happens, we can expect an initial price surge towards the 0.456 level, followed by a climb to the 0.505 to 0.539 range. This is where heavy resistance lies, and it's likely to slow down any further upward momentum, as profit-taking could kick in around these levels.
💎On the downside, PONKE is holding firm at the strong support between 0.382 to 0.368, which has served as a key consolidation zone. This range is about to receive additional support from the dynamic EMA-50, making it increasingly difficult for sellers to push the price any lower. Even if there are minor dips, the next significant support zone is at 0.330 to 0.322, which should provide a solid floor.
Stay sharp, Paradisers! The potential for a big move is here, but as always, patience and discipline are crucial.
MyCryptoParadise
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