Analysis of the chart and liquidity map for #PENDLE /USDT
1. Price movement forecast (short-term, medium-term):
Short-Term Forecast: The price is likely to consolidate between the $3.5 and $4.5 levels, given the current support and resistance levels, as well as low trading volumes.
Medium-term forecast: Possible decline to support level around $3.0 with further consolidation or rebound, given the overall downward trend and current liquidation levels.
2. Support and resistance levels:
Support:
$3.586
$2.687
$1.710
Resistance:
$4.280
$5.565
$6.092
3. Possible entry, exit, stop loss points for a long position:
Entry point: about $3.5 (if a rebound from the support level is confirmed).
Exit point: $4.5 (first resistance level), $5.5 (second resistance level).
Stop loss: $3.0 (below key support level).
4. Possible entry, exit, stop loss points for short positions:
Entry point: around $4.2 (if a rebound from the resistance level is confirmed).
Exit point: $3.5 (first support level), $3.0 (second support level).
Stop loss: $4.5 (above key resistance level).
5. Long and short scenario, probability assessment:
Long scenario:
Indicator:
Volume: a decrease in trading volumes, which is not favorable for longs.
Volume profile: the main volumes are concentrated at levels below the current price.
Ichimoku Cloud: The price is below the cloud, indicating bearish sentiment.
Parabolic SAR: the indicator is above the price, indicating a downward trend.
EMA: The price is below the 50 and 200 EMA, indicating a bearish trend.
RSI: The indicator is below 50, indicating a bearish trend.
Probability: 30%
Short scenario:
Indicator:
Volume: The decline in trading volumes confirms a possible further decline.
Volume profile: main volumes are concentrated at levels above the current price.
Ichimoku Cloud: The price is below the cloud, indicating bearish sentiment.
Parabolic SAR: the indicator is above the price, indicating a downward trend.
EMA: The price is below the 50 and 200 EMA, indicating a bearish trend.
RSI: The indicator is below 50, indicating a bearish trend.
Probability: 70%
Additional data (last 7 days):
Exchange reserve: decreased by 5%.
Net deposits on exchanges: down 3%.
Capital inflow: outflow prevails, decrease by 4%.
Inflow of large holders: outflow prevails, decrease by 2%.
Growth of active addresses: decrease by 2%.
Growth of new addresses: decrease by 1%.
Trade volume: down 6%.
Conclusion:
Based on the analysis of indicators and the current market situation, the more likely scenario is a further decline in the price of PENDLE in the short to medium term. Short positions seem to make more sense based on current market conditions and performance.
👍 ➡️@INVESTIDEAUA INVESTIDEAUA
