🚨 $PENDLE /USDT ALERT – POTENTIAL BREAKOUT OR FURTHER SLIDE! 🚨
The PENDLE/USDT chart on the 15-minute timeframe is showing significant volatility with a recent downtrend. After hitting a high of 4.549, PENDLE saw a sharp drop, reaching as low as 4.041, and is now attempting a recovery at the current price of 4.137. Momentum is uncertain, and traders should proceed with caution as the price tests nearby resistance.
💡 Trade Setup 💡
Entry Price: Consider entry around 4.13, provided there’s confirmation of stability or bullish signs at this level.
💡 Critical Levels to Watch 💡
Resistance:
4.202 – Initial resistance level; a breakthrough here could indicate potential for upward momentum.
4.388 – Major resistance; a significant level that could trigger further buying interest if broken.
4.549 – Strong upper resistance; clearing this level could set PENDLE up for a rally.
Support:
4.041 – Key support level; if the price fails to hold above this, it could see further downside pressure.
🎯 Take-Profit Targets 🎯
1. 4.202 – First target if momentum sustains.
2. 4.388 – Secondary target, expect profit-taking at this level.
3. 4.549 – Final target for a full rally; ideal for traders aiming for an extended breakout.
📉 Stop Loss:
Place a stop loss just below 4.041 to protect against unexpected downward moves.
⚠️ Caution: Watch closely for a confirmed breakout above 4.202 to validate upward movement. Failure to maintain stability around 4.13 may lead to increased selling pressure, possibly testing the 4.041 support level again.
Stay sharp and manage your risk.
