$PENDLE /USDT based strictly on the chart you shared 👇

Market Structure

Price has moved from the 1.75–1.78 base into a strong impulsive rally, now trading around 1.95.

Clear higher highs and higher lows → trend remains bullish.

Fast recovery after the sharp downside wick shows aggressive dip-buying (important strength signal).

Moving Averages

MA(7) > MA(25) > MA(99) → bullish stack intact.

Price is riding the MA(7), showing short-term momentum dominance.

MA(99) near 1.87 acts as the deeper trend support.

Key Levels

Immediate Resistance:

1.97–1.98 (intraday high rejection zone).

Breakout Zone:

Clean acceptance above 1.98 → opens 2.05–2.12 quickly.

Support Zones:

1.93–1.94 → first pullback support (MA cluster).

1.88–1.90 → structure support & value zone.

1.84 → bullish structure invalidation (short-term).

Volume Read

Strong volume expansion during the push confirms real participation.

Current volume is cooling → healthy consolidation, not selling pressure.

Candle Behavior Insight

The long lower wick earlier shows liquidity sweep + absorption.

Current candles are tight → market is coiling, preparing for expansion.

High-Probability Scenarios

Bullish Continuation (Primary):

Hold above 1.93, break 1.98 → fast move toward 2.05+.

Healthy Pullback Buy:

Dip into 1.90–1.92, bounce with volume → continuation.

Caution Signal:

Acceptance below 1.88 → short-term momentum weakens.

Trader Psychology This is a controlled bullish pause, not distribution. Late sellers are getting absorbed, while smart money waits for either a breakout or a discounted entry.$PENDLE