$PENDLE is currently trading around 1.728, down ~8.7% in the last 24 hours, continuing a clear short-term downtrend after failing to hold above the 1.80–1.82 supply zone.
The sharp drop into 1.716 was followed by a weak rebound, but price is now consolidating below broken support, which is acting as resistance — a classic bearish continuation structure.
On the 1H timeframe, we can clearly see:
Strong impulsive bearish move
Lower highs after each bounce
Buyers unable to reclaim key levels
Momentum remains tilted to the downside.
Trade Setup (Short / Bearish Continuation)
Entry Zone:
1.74 – 1.77 (pullback into resistance)
Targets:
Target 1: 1.71 (recent low retest)
Target 2: 1.66 (structure continuation)
Target 3: 1.60 (liquidity sweep / extension)
Stop Loss:
1.82 (above supply & structure invalidation)
Market Logic
1.80+ is a clear rejection area
The bounce from 1.716 is corrective, not impulsive
Price is compressing below resistance → downside pressure
A 1H close below 1.71 can accelerate the sell-off quickly
Unless PENDLE reclaims 1.82 with strength and volume, rallies are more likely to be sell-the-bounce opportunities.
