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Technical Analysis: $PENDLE

/USDT

As we analyze the PENDLE/USDT pair, the price currently sits at $5.39, showing a 14.65% decrease in the past 24 hours. The market has been experiencing volatility, with the 24-hour range spanning from $5.384 to $6.492. The latest price movement suggests a potential bearish trend, with the price encountering resistance around $5.90.

Key Levels to Watch:

Support: $5.384 (previous low)

Resistance: $6.492 (24h high)

Market Sentiment:

Volume (24h): 10.54M PENDLE (~$61.93M USDT)

Moving Averages: The price is currently below the 50-period MA, indicating a potential short-term downtrend.

Next Steps:

Traders should watch for a breakout above the $5.90 level for a potential reversal, or a deeper pullback towards support at $5.384 if selling pressure continues.

Stay updated on Binance for more market insights and analysis.

This keeps the analysis clear, direct, and focused on potential movements in the PENDLE/USDT market.