NEW CRYPTO TRADE ALERT 📈🚀️️
Direction: SHORT
Leverage: 3-5x
ENTRY -$2.8775— $2.92
🎯 TP 1: $2.806
🎯 TP 2: $2.60
🛑 SL: $3.1485
🔎 Analysis
1. Bearish Divergence: On both the 1-hour and 4-hour charts, Pendle is showing bearish divergence in the Stochastic RSI. The price is making higher highs, while the Stochastic RSI is showing lower highs, indicating weakening momentum and potential reversal to the downside.
2. Resistance Zone: Pendle is facing significant resistance at higher levels. The price has been struggling to break through this resistance zone, suggesting that upward movement may be limited unless a breakout occurs.
3. Loss of Momentum: The Stochastic RSI on both timeframes is showing signs of losing bullish momentum. This could indicate that further upward movement may be difficult to sustain without fresh buying pressure.
