🔍 Market Structure & Price Action
PENDLE has recently bounced from a significant demand zone around the $2.00–$2.20 area, highlighted by the thick blue box at the bottom of the chart. This area has acted as strong support in the past and shows renewed buying interest, evident from the bullish reversal and increased volume around mid-March.
Price action suggests the formation of a potential reversal structure, with the most recent swing low marking a possible higher low compared to the previous downtrend. The chart shows multiple black horizontal lines representing historical support/resistance zones.
🧠 My Perspective & Additional Insight
This chart suggests an early-stage reversal with bullish momentum building. The fact that price bounced cleanly from a macro support zone and is attempting to break above key EMAs strengthens the bullish bias.
With this head&shoulder should give to the price a real boost!
However, volume confirmation will be critical—look for a breakout above $3.25 with strong buying volume to confirm the move.
If planning to enter:
Entry: On reclaim of $3.20 with volume.
Stop Loss: Below $2.60 (or tighter depending on risk).
Targets: $4.25 → $5.42 → $7.50.
Patience is key. If price consolidates above EMAs, the bullish structure will remain intact.
Good trading :-)
PENDLE has recently bounced from a significant demand zone around the $2.00–$2.20 area, highlighted by the thick blue box at the bottom of the chart. This area has acted as strong support in the past and shows renewed buying interest, evident from the bullish reversal and increased volume around mid-March.
Price action suggests the formation of a potential reversal structure, with the most recent swing low marking a possible higher low compared to the previous downtrend. The chart shows multiple black horizontal lines representing historical support/resistance zones.
🧠 My Perspective & Additional Insight
This chart suggests an early-stage reversal with bullish momentum building. The fact that price bounced cleanly from a macro support zone and is attempting to break above key EMAs strengthens the bullish bias.
With this head&shoulder should give to the price a real boost!
However, volume confirmation will be critical—look for a breakout above $3.25 with strong buying volume to confirm the move.
If planning to enter:
Entry: On reclaim of $3.20 with volume.
Stop Loss: Below $2.60 (or tighter depending on risk).
Targets: $4.25 → $5.42 → $7.50.
Patience is key. If price consolidates above EMAs, the bullish structure will remain intact.
Good trading :-)
交易开始
amazing trend. Still buying.注释
still there, a goo trade.
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免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。