$PENDLE Bulls Ambushed!
A substantial $36.1K long position on $PENDLE was liquidated at $4.635, signaling a bearish turn that caught traders off guard. The bulls struggled to maintain momentum, allowing the bears to assert control.
Key Observations:
Bearish Signal: The liquidation highlights intensified selling pressure, potentially leading to further declines.
Support Watch: A critical test at the support zone will determine if the market stabilizes or dives further.
PENDLE Technical Breakdown:
Resistance Level: $4.75
Support Zone: $4.50
Momentum: Bearish, with downside risks prevailing
Can Pendle regain its footing, or will the bears drive it toward $4.50? Keep a close eye on volume and price action for the next signal!