$PENDLE /USDT

Analyzing the recent price action on the 4-hour chart, we see that the price hit a recent high of 6.280 before pulling back. The support level appears to be around the 5.234 mark, where the price found strong buying interest. This support level is also reinforced by the 99-period moving average (MA), which is currently at 5.475.

The 7-period (yellow line) and 25-period (pink line) moving averages are pivotal for short-term trends. The 7-period MA is at 5.731, providing immediate support, while the 25-period MA at 5.908 serves as a resistance point. The recent uptick to 5.975 suggests a potential challenge to the 25-period MA.

Volume analysis shows a significant increase during the recent upward move, indicating strong buying interest, which supports the price's rebound from the lower levels. The moving averages suggest a potential consolidation phase unless the price can break above the 6.280 resistance level.

For traders, watching the 6.280 resistance level is crucial. A break above this level with sustained volume could signal a bullish continuation. Conversely, failure to break this level may lead to further consolidation or a retest of lower support levels around 5.234.

In summary, the price is currently navigating between key support and resistance levels. Close monitoring of these levels and associated volumes will provide better insights for future price movements.#CryptoPCEWatch #MtGoxJulyRepayments #CryptoTradingGuide #BinanceTournament #Megadrop