PENDLEUSDT shows signs of a cup and handle pattern, which is usually a bullish continuation pattern.
Chart characteristics of the pattern:
Rounding bottom: The price has formed a rounding bottom near the low of 5.6357, which is typical of a cup.Horizontal resistance: There is a clear resistance near the 5.9877 (MA99) level, which the price is trying to break.Handle: The slight downward correction followed by the recent recovery may be the "handle" of the pattern.
Possible scenarios:
Breakout confirmed: If the price breaks the resistance at 5.98 - 6.00 with increasing volume, this may confirm the pattern and the price may move higher.Breakout failure: If there is not enough strength (low volume), the price may retest supports near 5.80.
Factors to watch:
Volume: Volume needs to increase during the breakout to validate the pattern.Resistance: The 6.00 level will be decisive to confirm the continuation of the rise.
Therefore, keep an eye on the breakout with volume. If it happens, there is a chance of a continuation of the rise!
