Marlin POND is trading in an uptrend, like many other Altcoins. The cryptocurrency POND just went up +165% in a single day by breaking a rising wedge pattern with strong buying volume on multiple exchanges and surges over +203% in a week.
What is Marlin?
Marlin POND is an open protocol that provides high-performance programmable network infrastructure for DeFi and Web 3.0. The nodes in the Marlin network, called Meta nodes, operate the MarlinVM, which provides a virtual router interface for developers to deploy customised overlays and perform edge computations. Its native utility token POND is used for running validator nodes on the network via staking, and voting on governance proposals to determine how network resources are allocated.
POND Price Analysis
At the time of writing, POND is ranked the 374th cryptocurrency globally and the current price is A$0.1905. Let’s take a look at the chart below for price analysis:
After looking at the above 1-Day candle chart, we can clearly see that POND was trading inside the rising wedge pattern on the POND/USDT pair. The first resistance was on the A$0.1297 price level, which POND broke with a strong bullish trend buying volume and is now heading towards the recent high price at A$0.2105. Seeing that many Altcoins are holding a strong position this week after the recent bitcoin price crash, POND may continue to increase in the uptrend if traders keep buying with high volume.
“The Rising Wedge is a bearish pattern that begins wide at the bottom and contracts as prices move higher and the trading range narrows. As a reversal pattern, the rising wedge will slope up and with the prevailing trend.”
What Do the Technical Indicators Say?
The POND TradingView indicators (on the 1 day) mainly indicate POND as a Strong Buy, except the Oscillators which indicate POND as a Buy.
So Why Did POND Breakout?
General market sentiment seems to suggest cryptos are hopefully turning back bull run season after recent price corrections. Another reason for this sudden pump in price could be whales secretly buying POND for the coming Altcoins rally. Recent news was also announced regarding some project enhancements and other pertinent topics.
Currently, it is very important to increase communication efficiency. However, in the century of technology, it seems that blockchains will play a great role in the decentralised economy and should be trusted by the people. So, the main goal of the Marlin is to contribute to increasing the rapidity of Web 3 and also make it more safe and reliable by changing the architecture of networking under blockchains.
Where to Buy or Trade POND?
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