🟢 Analysis of $PENDLE

📊 Analysis of the First Image

Key Support and Resistance Levels:

Strong Support: At levels 2.452 and 3.626.Strong Resistance: At levels 7.333 and 7.538.

Current Trends:

Bearish Flag Formation: The price is forming a bearish flag, indicating a potential continuation of the downward trend.

High Liquidity Levels: Strong areas where many long (at 4.623) and short positions (at 7.333 - 7.538) might be liquidated.

Relative Strength Index (RSI) Indicators:

Stochastic RSI: Approaching the oversold zone, which could indicate a potential reversal.

RSI: Also nearing the oversold zone.

📉 Analysis of the Second Image

Volume and Flows:

Cumulative Volume Delta (CVD): Shows a sharp decline, indicating a decrease in demand.

Open Interest: Remains stable, suggesting relative stability in the number of open contracts.

Funding Rates: Positive, meaning futures traders are paying to hold long positions.

Liquidity and Open Interest Indicators:

Aggregated Long/Short Ratio: Indicates a slight tilt towards long positions but remains close to balanced.

📈 Trend Forecast and Strategy

Expected Trend:

Based on the bearish flag formation and current support and resistance levels, we might see a continuation of the downward trend to the next support levels at 4.623 and 3.626.In case of a reversal, the price might attempt to test the resistance at 7.333 - 7.538.

Entry and Exit Strategy:

Entry Points:

Enter at the support level of 4.623 with a stop loss just below this level. Enter at the support level of 3.626 if the downward trend continues.

Exit Points: Exit at the resistance level of 7.333 or 7.538 if the price moves upwards.

Stop Loss: Set just below 4.623 for the first entry. Set just below 3.626 for the second entry.

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