PENDLE MARKET STRUCTURE UPDATE
I am tracking
$PENDLE closely as volume expands, and it's hovering near the mid-range of $1.9265. The volume profile indicates a relatively neutral buying pressure, with
$PENDLE struggling to break above the resistance zone of ~$1.9920. It's worth noting that a clean breakout above $1.9920 could lead to a potential target of $2.0500, representing a 6.2% increase from current prices if
$PENDLE can sustain above $1.9920. I'm monitoring the order blocks and liquidity pools, and
$PENDLE shouldn't have issues holding above the support zone of ~$1.8603.
The current price of $1.9280 is just 0.2% away from the mid-range, and I'm watching for a potential pullback to the $1.9100 level, which could serve as a buying opportunity. The funding rates are relatively stable, and the VWAP is aligned with the current price, indicating a balanced market structure.
It's crucial to monitor the market structure shifts and adjust the targets accordingly, as
$PENDLE is currently trading in a tight range. A break below the support zone could lead to a potential target of $1.8000, representing a 6.8% decrease from current prices.
$PENDLE #PENDLE #Crypto #BinanceSquare