Hereโs the $PENDLE USDT (Perp) trade setup ๐
๐ Market Snapshot
Last Price: 5.7570 USDT
Mark Price: 5.3860 USDT (โ ๏ธ futures trading ~7% above spot, showing strong long positioning / premium risk)
24h High: 5.7570 (price currently at the daily high)
24h Low: 5.3524
24h Vol(PENDLE): 13.82M
24h Vol(USDT): 77.26M
Change (24h): -1.07%
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๐งพ Key Levels
Resistance Zones
5.76 โ 5.78 (current daily high, immediate resistance)
6.00 โ 6.10 (psychological + next upside target)
Support Zones
5.58 โ 5.48 (first retest area)
5.38 โ 5.35 (daily low + mark price zone, strong demand zone)
5.28 โ 5.20 (deeper support, invalidation below here)
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๐ Volume & MA Check
Vol (817.6K) vs MA(5) = 568.6K, MA(10) = 514.1K
โก๏ธ Current activity above average โ bullish momentum confirmed.
โก๏ธ Suggests the breakout is supported by volume.
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๐ Interpretation
PENDLE is testing daily highs with increasing volume.
But the premium vs spot (5.757 vs 5.386) shows futures may be overheated.
Likely scenarios:
Pullback to 5.58โ5.48 before continuation.
If 5.35 fails, sellers may drag toward 5.20.
Break above 5.78 could accelerate toward 6.00โ6.10.
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๐ Trade Setups
โ Breakout Long (momentum play)
Entry: Above 5.78 (1h close)
TP1: 6.00
TP2: 6.10
SL: 5.58
โก Pullback Long (safer entry)
Entry: 5.48 โ 5.58 zone
TP1: 5.75
TP2: 6.00
SL: 5.35
โ Breakdown Short
Entry: Below 5.35
TP1: 5.20
TP2: 5.05
SL: 5.48
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โก Summary
Bias = Bullish, but heavy futures premium suggests a healthy pullback is likely before any clean continuation.
Watch if 5.58โ5.48 holds โ good spot for dip-buying.
Only consider shorts if 5.35 breaks with volume.
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Do you want me to chart a 15m intraday scalp plan for PENDLE like we did with ADA, or keep this at swing-level setups?
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