Ponke (SOL: $PONKE), a token on the Solana network, is on a sharp downtrend. The current price stands at $0.08229, a 2.44% drop in the last 24 hours. In the last 7 days, PONKE has lost 7.41% and its monthly decline sits at 28.58%.
The token’s market cap is now at $45.75 million, a 2.43% decrease. Daily trading volume has dropped to $3.47 million, down by a huge 62.68%.
Ponke was built on the Solana blockchain, known for fast and low-cost transactions. It has a total supply of 555 million tokens. The project targets online traders and gamers. It offers smooth interaction and rewards user engagement.
It also features tools like the “helmet” for community use. Additionally, Ponke maintains active social media accounts to support its growing community. Its listing on multiple major exchanges has boosted its visibility.
Technical Analysis: Price Action and Support Zones
Technically, PONKE shows strong bearish momentum. Price is currently trading below all key moving averages — the 50 MA (0.16623), 100 MA (0.30757) and 200 MA (0.29738). This signals prolonged bearish momentum..
An immediate support level sits around $0.05500. This level has held as a support level earlier and may attract some short-term bullish momentum.
The chart outlines two possible outcomes. If the support holds, the price may rebound towards the $0.20 resistance. This area was a key supply zone in the past. A strong break above this level may flip the trend. If the price breaks below the $0.05500 support, it may signal further downside.
PONTE 2-Day Charts: TradingView
Looking at PONKE technicals, the Relative Strength Index (RSI) is at 32.89, close to the 30 oversold level. This may suggest a possible relief bounce. However, a drop below 30 could signal stronger bearish control.
Overall, PONKE is at a critical level. Its next move depends on whether it can hold the current support or break lower. Also, the overall market structure will affect $Ponke’s direction.
Ponke continues to face pressure amid broader market weakness. The token’s utility and community strength remain, but technical signals show caution. Its next key movement will be shaped by the response to current support levels.
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