The previously discussed breakout from the wedge structure on POND propelled the price toward the projected target.

Following this move, a deep corrective phase ensued, bringing the price into a key support zone. This area of interest is expected to serve as a strong re-accumulation zone, while the main supply zone remains a critical resistance level to monitor for potential reversals for bullish continuation.

Following this move, a deep corrective phase ensued, bringing the price into a key support zone. This area of interest is expected to serve as a strong re-accumulation zone, while the main supply zone remains a critical resistance level to monitor for potential reversals for bullish continuation.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.