technical analysis and trade signal for the $PENDLE /USDT pair based on the current data:🔥🔥🚀🚀🚀

Technical Analysis:

Current Price: $6.22 (+0.53%)

24h High: $6.411

24h Low: $5.891

SAR (0.02, 0.2): 6.403

Support & Resistance Levels:

Support Level 1: $5.89 (recent low, key support zone)

Support Level 2: $5.75 (potential further support if price declines)

Resistance Level 1: $6.41 (24h high, strong resistance)

Resistance Level 2: $6.60 (next resistance target)

Key Indicators:

Price Momentum: The price has been moving in a slightly bullish direction with a 0.53% increase in the last 24 hours. It is currently testing near resistance at $6.41.

Depth: 6.688% indicates that there is decent buying pressure, but further confirmation is needed for a clear upward breakout.

Trade Signal:

Entry Point: Enter a long position near $6.22, as the price is showing upward momentum.

Target Levels 🎯:

1. Target 1: $6.41 – Short-term resistance level; the price is likely to test this area again.

2. Target 2: $6.60 – Potential breakout level if the price surpasses $6.41.

3. Target 3: $6.80 – Mid-term target after a successful breakout above $6.60.

Stop Loss:

Set a stop loss just below $5.89 (near recent support) to protect against a potential downside move.

Trade Momentum:

Positive Momentum: The price has shown consistent upward movement over the last few hours. If the price sustains above $6.22, it will likely continue moving toward the resistance zone at $6.41.

Caution: If the price drops below $5.89, the trend could reverse, and further downside movement may occur.

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