$PENDLE Recovery Move Resistance Test Ongoing
Price has shown a strong V-shaped recovery after forming a local bottom near 1.24. Buyers stepped in aggressively, pushing price back toward the key resistance zone around 1.37–1.40. This level is critical as it previously acted as a supply zone.
Momentum is clearly bullish in the short term, but price is now approaching resistance where rejection is possible. A clean breakout and hold above this zone would confirm continuation, while failure here could lead to a pullback toward mid-support levels.
Trade Setup:
Long (breakout confirmation)
Entry: $1.38 – $1.42
SL: $1.32
TP1: $1.50
TP2: $1.60
Key level in play — wait for breakout or rejection confirmation before entering.
PENDLE
1.952
-4.78%