$PENDLE is currently in a downtrend with a 24-hour price change of -0.961%.
The price fluctuated between 4.136 and 4.004, indicating tight market dynamics.
Bollinger Bands suggest limited volatility, with the upper band at 4.134 and the lower at 4.009.
Strong resistance at 4.136 and support at 4.004 may dictate near-term movements.
Macroeconomic factors, including inflation data, could further influence price action, but Bitcoin's correlation remains undefined at this time.
Traders might consider a short-term approach due to increasing volatility in the broader market.
A unique takeaway is that PENDLE's performance will hinge on how it adapts to external macroeconomic pressures rather than solely following Bitcoin.
