PENDLE – Bulls Defending the 4.50 Zone 📈🛡️

[theSignalyst]

PENDLEUSDT remains overall bullish, trading above the rising trendline. Price has pulled back in a red corrective channel and is now hovering around the $4.50 support zone, which lines up with the ascending trendline—solid confluence for buyers.

If bulls hold $4.50 and break the red channel to the upside, momentum could resume toward $5.20 → $5.60, then the higher resistance zone $7.00 – $7.50.

If $4.50 fails, I’ll expect a deeper dip into $4.00 first. A decisive loss of the trend structure could expose $2.50 – $2.35 next.

What do you think—does $4.50 hold and launch the next leg up, or do we get one more shakeout first?

️ Disclaimer: This is not financial advice. Always do your own research and manage risk properly.

Stick to your trading plan regarding entries, risk, and management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Richard Nasr