$PENDLE Key Focus 1.8
1. Overall Trend Judgment (Core)
Current Situation: The most critical point is that the price is currently in the super support zone of $1.80 - $2.00. This is the absolute bottom from the major collapse in July-August this year. If the bulls can hold here, PENDLE will maintain a wide range oscillation pattern; once it effectively breaks down, a huge 'head structure' will form above, and the market may be halved.
PENDLE is on the 'edge of the cliff'. This is currently the last line of defense for the bulls. Although the indicators are in the oversold zone, the downtrend has not yet reversed, making it a high-risk left-side betting position.
2. Key Levels
Resistance Levels:
Short Resistance: $2.50 - $2.80. A small oscillation platform during the recent downtrend. If it rebounds to this level, short-term trapped funds will seek to exit.
Strong Resistance: $3.50 - $4.00. The area of concentrated transactions before the accelerated decline. Only by standing back here can we declare the crisis resolved.
Support Levels:
Lifeline: $1.80 - $1.85. The lowest point of the previous collapse. This is the trench where the bulls have no retreat.
Extreme Bottom: $1.00 - $1.20. If $1.80 is lost, technically, there is almost a vacuum area below, and the price is likely to seek the starting point from the beginning of the year.
3. Trading Volume Signals
Signal: Decrease in volume during the decline, no increase in volume seen at the bottom.
Currently, the trading volume is relatively stable, with no obvious panic selling (volume crash) and no signals of major players entering the market (volume stop decline).
The market is waiting. Both bulls and bears are waiting for a directional choice, currently in a stalemate state of 'not falling but also not rising'.
4. Operational Strategy
For Holders: A fight to the death.
The current price is near the major bottom, cutting losses has little meaning.
It is recommended to firmly hold $1.80. As long as the daily closing price does not fall below this level, be patient and hold on for a double bottom rebound.
For Non-Holders: High risk-reward trial.
Strategy: The current position at $1.89 has an excellent risk-reward ratio.
Buy: Can try to buy lightly in the range of $1.85 - $1.90.
Stop Loss: Strictly set at $1.75 (effectively breaking the previous low).
Logic: Use a stop loss of $0.15 to aim for a rebound space of $1.00+ (target $3.00), which is a typical case of 'small bets for big returns'.
5. Summary
PENDLE is undergoing a 'bottom line test', with $1.80 being the dividing line between bulls and bears. Holding it means a double bottom; failing to hold it means falling into an abyss.