Here's a brief technical analysis of $PENDLE
/USDT:🔥💯
Technical Analysis:
Current Price: $5.26
24h High: $5.345 / 24h Low: $4.963
Trend: Bullish (Price increased by +5.83% in the last 24 hours)
Key Resistance Level: $5.35
Key Support Level: $4.96
Momentum: Positive — The price has been rising and showing strong buying activity.
Trade Signal:
Buy Signal: Buy when price breaks above $5.35 with strong volume.
Sell Signal: Consider selling near $5.45 or above if momentum slows down.
Target Levels:
1. Target 1 (T1): $5.40 — A reasonable short-term resistance point based on the previous high.
2. Target 2 (T2): $5.55 — Next resistance level after T1, where further upward momentum may be capped.
3. Target 3 (T3): $5.75 — A more extended target if the bullish trend continues.
Trade Momentum:
Positive momentum as evidenced by the 5.83% daily increase.
Watch for any signs of reversal near resistance levels ($5.35-$5.45), where market sentiment may change.
If the price starts pulling back to or below $5.00, this might signal weakening momentum, and a reversal or consolidation could follow. Always use stop-loss orders to manage risks in volatile markets.