$PENDLE just did something bulls have been waiting for all month.
The downtrend is broken.
After bouncing from $1.245, $PENDLE ripped around 12% and pushed toward $1.49. That descending channel is no longer controlling the chart.
Now comes the real test: $1.574.
Bulls need to break and hold above it. Do that, and suddenly $2.00 becomes the level everyone starts watching.
But this is also where things can get nasty.
If $1.574 rejects price, PENDLE could chop and cool off. Lose the structure completely, and $1.245 becomes the line bulls cannot afford to lose.
MACD momentum has flipped positive, so for now, momentum is leaning with the buyers.
$1.574 is the door.
$2 is what’s waiting on the other side. 👀
The downtrend is broken.
After bouncing from $1.245, $PENDLE ripped around 12% and pushed toward $1.49. That descending channel is no longer controlling the chart.
Now comes the real test: $1.574.
Bulls need to break and hold above it. Do that, and suddenly $2.00 becomes the level everyone starts watching.
But this is also where things can get nasty.
If $1.574 rejects price, PENDLE could chop and cool off. Lose the structure completely, and $1.245 becomes the line bulls cannot afford to lose.
MACD momentum has flipped positive, so for now, momentum is leaning with the buyers.
$1.574 is the door.
$2 is what’s waiting on the other side. 👀