$PENDLE USDT
💎 The price has successfully broken out of the falling wedge pattern, accompanied by a break of the Choch area and a reclaim of the support level. These three confirmations simultaneously signal a very bullish potential for PENDLE's movement.
💎 The price may retest the support area around 5.580 before continuing its upward trend, potentially aiming to reach the previous all-time high in our target area.
💎 However, if PENDLE fails to bounce from the support area and instead consolidates with weak volume, this could be a concerning sign.
💎 It may indicate a possible fakeout or even a breakdown below the support area. In such a scenario, PENDLE would fail to sustain its bullish movement, and the price could decline toward the demand area at $4.7.
💎 The demand area holds significant importance, so it's crucial for PENDLE to bounce from this level and reclaim the support to resume its upward movement. However, if PENDLE fails to bounce and breaks below the demand area, this could signal a bearish momentum, potentially leading to further downward movement.
⚠️ Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.
