$PENDLE /USDT- 1 day timeframe
#PENDLE /USDT is showing a potentially #bullish structure after a strong recovery from its March lows, with price currently consolidating just below a key breakout resistance at $3.697. If bulls manage to push above this level with volume, it could open up upside targets toward $4.738 (Level 1) and eventually $6.386 (Level 2), offering a strong risk-reward opportunity. The short-term trend is supported by the 20-day (blue) and 50-day (red) moving averages, which have turned upward, reflecting positive momentum. A successful breakout would also place price above the 200-day MA (yellow), confirming a full bullish reversal. However, failure to break above resistance could lead to a pullback toward $3.048 or deeper support at $2.495, where bulls must defend to keep the uptrend intact. In summary, #PENDLE is at a critical decision point, bullish bias above $3.697, but vulnerable to a correction if rejected.
