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$PENDLE : ANOTHER 12% MOVE COULD BE ON THE TABLE
#PENDLE is still showing a bullish structure, and the recent breakout gives buyers a reason to stay interested.
The important level here is the $1.91 neckline. Price has broken above the resistance created by the inverse head-and-shoulders pattern, turning that area into an important support zone. As long as PENDLE holds above it, the bullish setup remains valid.
From here, $2.30โ$2.38 looks like the next major area to watch. A move toward $2.38 would represent roughly another 12% upside from the referenced price.
But I wouldnโt focus only on the chart pattern.
The Accumulation/Distribution indicator is climbing, suggesting buyers are continuing to absorb supply. The 58M area is particularly important because previous rejection around that level showed that sellers can still appear there. A clean move above it would strengthen the bullish case.
Momentum is also cooperating. MACD remains positive, with the MACD line above the signal line, indicating that upside momentum hasn't completely faded.
๐ฎ My prediction
If PENDLE continues holding above $1.91 and accumulation keeps increasing, Iโd expect buyers to test $2.30 first, followed by $2.38 if momentum expands.
However, a decisive drop back below $1.91 would weaken the breakout and could trigger a deeper pullback.
For now: bullish, but confirmation above resistance is key. ๐
#PENDLE #Altcoins