$PENDLE /USDT Update: Head and Shoulders Pattern Forming – Bearish Signal Ahead?

📉 Current Price: $3.849

🕒 Timeframe: 30-Minute Chart

A potential Head and Shoulders pattern is forming on the PENDLE/USDT chart — a classic bearish reversal signal that could indicate a short-term price drop if confirmed.

🔍 Pattern Overview:

Left Shoulder: The price formed a moderate high.

Head: A sharp rally followed, creating a higher peak.

Right Shoulder: A lower high is now forming, suggesting weakening momentum.

The neckline of the pattern appears to be around the $3.78–$3.80 zone. If the price breaks below this level with strong volume, it could trigger a further decline, possibly toward the $3.60 support zone.

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📉 What to Expect?

If the Head and Shoulders pattern plays out and the neckline breaks decisively, it would signal a bearish trend in the short term. However, if the neckline holds and price bounces back, the pattern could fail — so confirmation is key.

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⚠️ Risk Management Tip:

While chart patterns can be useful, always wait for volume confirmation and use proper stop-loss strategies. Avoid entering trades based solely on predictions.

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📌 Final Thoughts:

$PENDLE is at a critical point. The market structure is signaling a possible downturn through the Head and Shoulders formation. Traders should monitor closely and stay cautious — especially those looking for short-term opportunities.