$PENDLE – WEAK BOUNCE OR TRAP? SELLERS STILL IN CONTROL

• LOWER HIGHS FORMING BELOW $4.74

• BEARISH REJECTION AFTER WEAK RECOVERY

$PENDLE failed to reclaim the $4.74 resistance after a strong sell-off. Despite recent attempts to recover, price action remains choppy with lower highs and frequent rejections near $4.50. The wicks and indecision candles signal hesitation from bulls, and the bounce lacks volume strength, increasing the risk of another drop if $4.36 breaks.

🔻 Short Trade Setup

• Entry Zone: $4.43 – $4.48

• Stop Loss: Above $4.58

• TP1: $4.27

• TP2: $4.12

• TP3: $3.95 (extended target)

Momentum is fading fast. As long as PENDLE trades below $4.58, bearish continuation remains likely.

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