PONS Whale Sells Tokens for $3.6M Amid Bullish Trend
A significant transaction has taken place in the PONS market, with a whale selling 5.34 million tokens for $3.6 million worth of Ethereum.
The sale occurred within an hour and resulted in a loss of $578,000 for the whale, who still holds 1.69 million CASHCAT tokens ($285,000) and 8.59 million 4STOCK tokens ($127,000).
The price action on the four-hour chart shows PONS trading at $0.68, above the EMA50 support level at $0.63 and the EMA200 at $0.47.
The token's recent price movements have led to a bullish trend structure, with the MACD golden cross reinforcing this outlook.
However, PONS now faces resistance from the upper Bollinger Band at $0.71, while the RSI sits neutral at 57.07, indicating a possible retracement towards the 50-EMA before any further price increases.