PENDLEUSDT - Possible Accumulation
PENDLEUSDT appears to be in a potential accumulation phase. Recently, we observed a spring characterized by a sharp downward move followed by a quick recovery on high volume and a low volume test.
Price has reached a key resistance level. For the bullish scenario to unfold, we need to see the price overcome this resistance with conviction. A breakout above this level on increasing volume would be a strong indication of buyer strength and could signal the end of the accumulation phase.
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Price has reached a key resistance level. For the bullish scenario to unfold, we need to see the price overcome this resistance with conviction. A breakout above this level on increasing volume would be a strong indication of buyer strength and could signal the end of the accumulation phase.
wyckoffanalytics.com
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