Here's the latest analysis update for PENDLE USDT:
Current Trend: PENDLE USDT is experiencing a strongly bullish trend, with 92.86% of signals from moving averages indicating a buy signal.
Price Movement: The current price is around 4.0961 USDT, with an 11.51% increase in the past 24 hours. Trading volume has reached 26.702M
Technical Analysis:
1. Price Structure and Key Levels:
The price of PENDLE/USDT is approaching the resistance level at $4.79. If this level is broken, it could pave the way for further bullish momentum.
Currently, the price is holding above the support at $3.62, which needs to be maintained to sustain the bullish scenario.
If the support at $3.62 fails, a drop to the lower support at $2.48 is possible.
2. Oscillator Analysis:
The Smooth OSC indicator is showing a clear bullish momentum, confirming strength in the recent price movement.
3. Multi-Timeframe Panel Analysis:
In the 1-hour (1h) and 4-hour (4h) and daily (1D) timeframes, the trend is bullish, with the price positioned above both the Trend and Ribbon (▲ and green background). The Ribbon is currently acting as dynamic support.
Conclusion:
PENDLE/USDT is currently showing strong bullish signs across multiple timeframes, but the key is breaking through the $4.79 resistance.
If the price closes above $4.79, it opens up the path for a rally towards $6.87 and beyond.
However, failure to hold above $3.62 could lead to a retest of the $2.48 support, which would invalidate the bullish scenario.
