PENDLE rejected hard at weekly supply cluster

🔴 $PENDLE - SHORT

Trade Plan:
Current Price: $1.89
Entry Zone: $1.92 – $1.96
SL: $2.05
TP1: $1.80
TP2: $1.70
TP3: $1.55

PENDLE produced a sharp shooting-star rejection at the weekly resistance confluence with heavy sell-side volume dominating the retest. Price failed to hold above the 200 EMA on the daily while funding rates flipped negative, trapping late longs and confirming distribution. The structure now points to a clean sweep of the lower liquidity pool with bearish order flow intact.

Will PENDLE finally deliver the next leg lower after this rejection?

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$PENDLE

PENDLEUSDT

Διην.

1.768

-5.30%