PENDLE/USDT Technical Analysis & Trade Signal
Current Price: 6.079 USDT
24h High: 6.771 USDT
24h Low: 6.070 USDT
Price Change: -8.01%
Key Levels:
Support: 6.070 USDT (strong support zone)
Resistance: 6.771 USDT (previous 24h high)
SAR: 6.301 USDT (potential trend reversal level)
Trade Momentum:
The price is currently in a slight downtrend (-8.01% change), indicating a bearish short-term sentiment.
Volume: Significant trading volume (28.26M USDT) suggests active market participation.
Momentum: Bearish momentum is indicated by the lower current price compared to the previous 24h high and the negative price change.
Trade Signal:
Short Entry: Enter short positions near 6.080 USDT (near current price), targeting further downside as the trend appears bearish.
Target Levels:
1. Target 1 (Short): 6.070 USDT (near immediate support)
2. Target 2 (Short): 6.050 USDT (next support zone, potential lower target)
3. Target 3 (Short): 5.900 USDT (further downside)
Stop Loss: Place a stop loss around 6.800 USDT, just above the resistance level.
This analysis suggests a short trade setup due to bearish momentum. However, if the price breaks the resistance level at 6.771 USDT, it could indicate a reversal to the upside. Keep monitoring price action for adjustments.
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