$PENDLE Overextended Peak: Decline Gathering Steam?
$PENDLE hit 5.997 but has fallen to 5.584 with a -0.80% daily loss, displaying a tall green spike followed by red pullback on the 1D chart. This points to potential reversal lower.
Trade Setup – Short Opportunity
• Entry Zone: $5.55 – $5.60
• Stop Loss: Above $5.75
• TP1: $5.40
• TP2: $5.20
• TP3: $4.90 (extended target)
Market Insight:
Volume peaked on the rise but is now waning, favoring sellers. Breaking below 5.414 could trigger sharper drops. Monitor the next 1H candle closely.