$PENDLE /USDT - Breakout or Just a Relief?

Trade Setup: Mid-term Bounce Possible🔐👇

🔹 Current Price: $4.07

🔹 Timeframe: 1H & 4H

🔹 Trend Signal: Minor reversal seen from demand zone with early RSI divergence signs.

🔍 Chart Observations:

$PENDLE Price rebounded strongly from a key demand block near $3.90, forming a bullish engulfing candle.

RSI bullish divergence confirmed on 1H + 4H — indicating weakening selling pressure.

Price is now pushing toward the $4.22-$4.29 supply zone (resistance), where multiple rejections have occurred previously.

Structure shift with a mini CHoCH on 1H indicates bulls are trying to regain control.

21/50 EMA crossover likely soon if momentum holds.

📊 RSI Status:

RSI 1H: 56.53

RSI 4H: 40.35 (still below neutral but turning up)

🎯 Strategy Plan (Short-Term Bulls):

Entry: $4.03–4.06 (breakout retest entry)

Target 1: $4.22

Target 2: $4.29

Invalidation: Below $3.96 (tight SL for momentum play)

🔄 If Rejected at $4.22:

Watch for a retest of $3.88–$3.92 demand zone for fresh long setups.

🧠 Pro Tip:

Volume remains light, so breakout confirmation above $4.22 with momentum is crucial. A failure may bring back sellers around $4.28 resistance band.

💬 "Patience is not passive; it is a concentrated force."

📌 Disclaimer:

This is not financial advice. Do your own research before trading.

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