🚀🔥🔥 PENDLE Awakens: Is This the Comeback Before the Storm or Just a Bull Trap?
After a brutal downtrend from ~6.2 to sub-$1 levels, PENDLE is finally showing signs of life. The recent bounce from ~$0.97 suggests buyers are stepping in, but let’s not get carried away just yet.
Short-term momentum is improving:
🔋MACD flipping positive hints at an early bullish shift
🔋RSI near 63 shows growing strength without being overbought
🔋Price reclaiming MA(7) adds to the recovery narrative
But here’s the reality check:
🪫Price is still below MA(25) → the bigger trend remains bearish
🪫The move so far looks like a relief rally, not a confirmed reversal
Key battlegrounds ahead:
👉Support: $0.95–1.00 (must hold)
👉Resistance: $1.65, then $1.8–2.0
🔥Bottom line:
Momentum is building, but bulls need a strong breakout above $1.65 to flip the trend. Until then, this could either evolve into a powerful comeback or turn into a classic bull trap.
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