PENDLE printed a +12.5% candle but couldn't hold the highs.
Price wicked from 1.58 all the way to 1.98 before getting sold back down to 1.82, right on the 20-day EMA. That's a full rejection at the top of the 7-day range on just $11M of volume.
The desk's read is that sellers are layered at the highs. This looks more like an exhaustion wick than the start of a new leg up. Expecting chop inside the range, not a clean breakout.
Is this a failed pump you're fading, or just a healthy retest before $2?#PENDLEUSDT #CriptoTrading
$PENDLE
Price wicked from 1.58 all the way to 1.98 before getting sold back down to 1.82, right on the 20-day EMA. That's a full rejection at the top of the 7-day range on just $11M of volume.
The desk's read is that sellers are layered at the highs. This looks more like an exhaustion wick than the start of a new leg up. Expecting chop inside the range, not a clean breakout.
Is this a failed pump you're fading, or just a healthy retest before $2?#PENDLEUSDT #CriptoTrading
$PENDLE
