$PENDLE
$PENDLE Plunges to $1.97 in a rapid flush... Is the correction over?
Technical Analysis (PENDLE/USDT):
Price now: $2.054 (-5.35%)
24h high: $2.177 - 24h low: $1.978
Volume: 1.55M PENDLE / 3.25M USDT
On the 4-hour timeframe, we can see it all: a peak at $2.28 on the 8th, followed by a sharp drop to $2.06, then a gradual rise to $2.24 on the 12th. On the 13th, a massive liquidation candle plunged to $1.97 with a very long wick, before bouncing back to $2.05. This is a bullish Pin Bar with a volume of 500K+, indicating that whales strongly defended the $2.00 level.
Performance: -1.25% today, -16.44% this week, but +87% over 180 days. The coin remains one of the strongest DeFi tokens.
Trading plan:
1- Bullish scenario:
Entry: A 4-hour close above $2.12 confirms that the flush to $1.97 is over.
Stop loss: A daily close below $1.97
Target 1: $2.17
Target 2: $2.24
2- Bearish scenario:
A break below $1.97 on a closing basis means selling pressure has not subsided. In this case, wait for $1.85 and don't buy into the drop.
#PENDLEUSDT #AMANDABELLA #RBNZPausesDigitalCashDevelopment #EvernorthNasdaqDebutClosesDown1.05% #BlurPlansToRetireBlurioFrontendOnNov12
$PENDLE Plunges to $1.97 in a rapid flush... Is the correction over?
Technical Analysis (PENDLE/USDT):
Price now: $2.054 (-5.35%)
24h high: $2.177 - 24h low: $1.978
Volume: 1.55M PENDLE / 3.25M USDT
On the 4-hour timeframe, we can see it all: a peak at $2.28 on the 8th, followed by a sharp drop to $2.06, then a gradual rise to $2.24 on the 12th. On the 13th, a massive liquidation candle plunged to $1.97 with a very long wick, before bouncing back to $2.05. This is a bullish Pin Bar with a volume of 500K+, indicating that whales strongly defended the $2.00 level.
Performance: -1.25% today, -16.44% this week, but +87% over 180 days. The coin remains one of the strongest DeFi tokens.
Trading plan:
1- Bullish scenario:
Entry: A 4-hour close above $2.12 confirms that the flush to $1.97 is over.
Stop loss: A daily close below $1.97
Target 1: $2.17
Target 2: $2.24
2- Bearish scenario:
A break below $1.97 on a closing basis means selling pressure has not subsided. In this case, wait for $1.85 and don't buy into the drop.
#PENDLEUSDT #AMANDABELLA #RBNZPausesDigitalCashDevelopment #EvernorthNasdaqDebutClosesDown1.05% #BlurPlansToRetireBlurioFrontendOnNov12