📉$PENDLE PENDLE/USDT – Significant Downtrend Continues
📉 Current Price: $4.719 (-18.29%)
🔝 24H High: $5.856
🔻 24H Low: $4.648
💰 Volume:
PENDLE: 12.31M
USDT: 62.83M
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Market Analysis
PENDLE/USDT has experienced a steep decline, losing over 18% in the last 24 hours. The pair is trading near its 24H low of $4.648, indicating strong selling pressure. The next moves will depend on whether buyers can reclaim critical levels or if bears push the price lower.
Resistance Levels:
$5.00 – A psychological barrier to break for any recovery.
$5.23 – Strong resistance from previous trading activity.
Support Zone:
$4.65 – Key support; a breakdown here could lead to $4.50 or lower.
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Next Moves
1. For Buyers:
Look for entries near $4.65, with potential targets at $5.00 and $5.23.
Wait for confirmation of a bounce or stabilization before entering.
2. For Sellers:
Monitor for rejection near $5.00 to short, targeting $4.50 as a lower support level.
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Key Insights
Bearish Momentum: Sellers are firmly in control, with continued downside pressure.
Oversold Potential: The sharp decline may attract buyers at key support zones for a relief rally.
Risk Management: Volatility is high; tight stop-loss orders are critical.
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Final Thought
PENDLE/USDT is in a downtrend, with critical support at $4.65. Traders should watch this level closely for signs of either stabilization or further weakness. Adjust strategies according to price action.
