🟢 Analysis of PENDL Token 🎯

📊 Analysis of the First Image

1. Key Support and Resistance Levels:
• Strong Support: At levels 2.452 and 3.626.
• Strong Resistance: At levels 7.333 and 7.538.

2. Current Trends:
• The price is forming a bearish flag, indicating a potential continuation of the downward trend.
• High Liquidity Levels: Indicating strong areas where many long (at 4.623) and short positions (at 7.333 - 7.538) might be liquidated.

3. Relative Strength Index (RSI) Indicators:
• Stochastic RSI: Shows it is approaching the oversold zone, which could indicate a potential reversal.
• RSI: Also approaching the oversold zone.

📉 Analysis of the Second Image

1. Volume and Flows:
• Cumulative Volume Delta (CVD): Shows a sharp decline in cumulative volume, indicating a decrease in demand.
• Open Interest: Remains stable, indicating relative stability in the number of open contracts.
• Funding Rates: Positive, meaning that futures traders are paying to hold long positions.
2. Liquidity and Open Interest Indicators:
• Aggregated Long/Short Ratio: Indicates a slight tilt towards long positions but is close to balanced.

📈 Trend Forecast and Strategy:

1. Expected Trend:

• Based on the bearish flag formation and current support and resistance levels, we might see a continuation of the downward trend to the next support levels at 4.623 and 3.626.
• In case of a reversal, we could see the price attempting to test the resistance at 7.333 - 7.538.

2. Entry and Exit Strategy:

• Entry Points:
• Enter at the support level of 4.623 with a stop loss just below this level.
• Enter at the support level of 3.626 if the downward trend continues.
• Exit Points:
• Exit at the resistance level of 7.333 or 7.538 if the price moves upwards.
• Stop Loss:
• Just below 4.623 for the first entry.
• Just below 3.626 for the second entry.
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Coin selected by @Vera Malbrough kGjU