$PENDLE/USDT – Bearish Continuation Likely After Breakdown
Price: 2.169
Timeframe: 15m
📉 Market Structure
PENDLE has broken down sharply from the 2.25–2.30 support region, forming a clean lower-high → lower-low sequence, and is now ranging weakly just above 2.15, which is acting as short-term support.
Momentum is still bearish, and the current sideways chop looks like a bearish consolidation, not a reversal.
A sweep of 2.15 or a retest of broken support levels is likely before any meaningful bounce.
Short Setup
Entry Range:
2.18 – 2.20 (ideal retest of minor resistance created by breakdown)
Targets:
TP1: 2.15
TP2: 2.12
TP3: 2.10
Stop Loss:
Above 2.225 (invalidates the bearish retest structure
📌 Short Outlook
Price is consolidating after a strong drop, showing no signs of bullish absorption.
Unless bulls reclaim 2.22+, momentum favors continuation to the downside, targeting liquidity around 2.12 → 2.10.
A retest of 2.18–2.20 would offer the highest-probability short entry.
