My bullish view on PENDLE goes beyond a simple rebound. What matters is whether price can reclaim lost ground and hold it.
The move from $2.01 to $2.20 marked the initial recovery. The next key level is $2.128. Breaking above it would strengthen the bullish case, but holding it during a pullback would be more significant.
A reclaimed level only matters if price can maintain it. Otherwise the move may turn out to be a temporary bounce rather than a lasting recovery.
That is the key signal Iโm watching in $PENDLE A stronger price structure would provide a more convincing basis for the bullish thesis.
#PENDLE #CryptoAnalysis #PriceAction
The move from $2.01 to $2.20 marked the initial recovery. The next key level is $2.128. Breaking above it would strengthen the bullish case, but holding it during a pullback would be more significant.
A reclaimed level only matters if price can maintain it. Otherwise the move may turn out to be a temporary bounce rather than a lasting recovery.
That is the key signal Iโm watching in $PENDLE A stronger price structure would provide a more convincing basis for the bullish thesis.
#PENDLE #CryptoAnalysis #PriceAction