Pond Coin (PNDC) has reversed from yesterday’s bearish action, posting a 4% gain in just 24 hours. The uptrend now sees PNDC hold a 41% monthly gain.
Trading volumes are also soaring and have hit $2.94 million in just 24 hours. At the time of writing, PNDC was trading at $0.00000215. It has created a 24-hour high of $0.00000231 amid the recent gains.
The current price action comes as the cryptocurrency market braces for the effects of the Fed’s decision on interest rates. The Federal Reserve Open Market Committee (FOMC) meeting is scheduled for September 20-21, with a hike expected to cool down markets.
Bulls appear to be attempting $0.00000297, at which point PNDC will be at a record high. A 27% upswing from the current levels will create a new record high.
PNDC Set For 22% Price Hike
PNDC faces resistance at $0.00000225. The coin has tested this resistance level severally before being rejected.
If PNDC can break this level, the trend will reverse to the upside, in which case bulls will take the price past $0.00000253 to create a new ATH. PNDC made a false breakout to these levels on September 15 before a steady reversal ensued.
An uptrend to these levels will be confirmed if PNDC can gather the uncollected liquidity past $0.00000231. Breaking past this level will create entry for traders seeking to secure bullish gains.
While bulls are currently in control, bears also fight to lower prices. Uncollected liquidity lies at $0.0000020, with PNDC making a false breakout to the downside of these levels on September 18.
Therefore, for PNDC to gear up for a 22% price hike, $0.00000225 and $0.00000231 are crucial levels to watch out for.
Indicators Are Bullish
The indicators point towards the current trend being bullish, but there are signs of bears fighting for control.
The Relative Strength Index is at a neutral zone of 50, pointing towards indecisiveness between the bulls and the bears. The RSI line is flattening, which shows a battle for control between buyers and sellers.
The Moving Average Convergence Divergence (MACD) line is in the positive region, which is bullish. However, the MACD histogram bars are a fading red, hinting at a possible entry of bears to the market.
With markets awaiting FOMC news, PNDC might report some volatile price movements.
Bitcoin BSC Presale Breaks Past $3.5 Million
Bitcoin BSC is currently the best-performing presale in the market after raising more than $3.5 million since its launch on September 5. The presale is presently inching towards a soft cap of $3.96 million.
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The Bitcoin BSC has quickly gained momentum, with over 1.8 million tokens staked. The staking pool is currently offering a generous reward of 145%.
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