🚀 $PENDLE is showing a potential technical setup!

On the weekly timeframe, PENDLE has experienced a strong rejection at major structural resistance around $2.80, signaling a potential corrective leg down.

📈 The Technical Setup:
• The Pattern: Bearish Harmonic Pattern Rejection
• Short-term Target: $1.65
• Macro Objective: N/A based on visible chart
• Market Structure: Corrective Pullback

🎯 Key Levels to Watch:
• Support / Accumulation Zone: $1.65 - $1.70
• Resistance: $2.80 - $2.85
• Breakout Level: $2.85
• Stop Loss / Invalidation: $2.90

📊 Confirmation:
• Volume: Neutral/standard weekly volume on the current corrective candle
• Momentum: Strong weekly candlestick rejection from the overhead structural resistance zone
• Trend: Local rejection within a broader consolidation and corrective structure

⚠️ Invalidation:
A clear weekly candlestick close above the $2.90 resistance level would invalidate this bearish corrective outlook.

Keep a close watch on how price behaves as it approaches the key weekly support levels.

💎 Creator: NOUMAN_DON (@NOUMAN_DON)

#PENDLE
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