After the monthly bounce back, which led to a three-week contraction, Pundix’s volatility increased and exploded massively to a new high for the first time in three months. It is now looking bullish on the daily scale. As most altcoins recovered from their local bottoms earlier this month, Pundix followed suit as it picked up from $0.214 after a slight rejection. Holding this price level as support, it recovered steadily, but struggled with volatility on the way up following a low volume inflow daily. While the recovery led to a temporal suspense in the short-term bearish correction, the price reached the $0.3 level after three weeks of recovery. This looks more like a liquidity gathering phase, and as we can see on the daily chart, the price exploded massively due to an enhanced volume since yesterday. Such an explosion is considered a pump from a technical standpoint, and with the look of things, it will most likely be followed by a dump soon, washing away the gains in no time. However, it is important to note that the trading landscape has changed, and the bulls are now gaining control. Sustaining the pressure above last December’s high could lead to a complete trend reversal, invalidating further bearish moves from a mid-term perspective. Pundix’s Key Levels to Watch Source: Tradingview Anticipating a dump, there’s a close support level at $0.437. If this level collapses, the next support for drops would be $0.391 before rolling back to the $0.32 level, where the price flipped through yesterday. Aside from the $0.584 level, rejected a few hours ago, higher resistance levels to watch for growth are $0.6 and $0.7. A surge through these levels could send the price to a new high. Key Resistance Levels: $0.584, $0.6, $0.7 Key Support Levels: $0.437, $0.391, $0.32 Spot Price: $0.51 Trend: Bullish Volatility: High Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news ! Image(s): Shutterstock.com
