PENDLE - Is there a trade opportunity here ?

#PENDLE/USDT Analysis
Description
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+ As depicted in the chart, the price of PENDLE has broken out of the channel after trading within it for approximately a month.
+ This bearish breakout suggests an imminent phase of price consolidation following a bullish trend that persisted for over a month.
+ This presents a favorable opportunity to initiate a SHORT trade.
+ While significant profits may not be attainable in this trade, given the potential for price rebound from one of the support levels, it still represents a respectable opportunity.
+ I anticipate a price rebound after reaching the support range around 2.6.
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VectorAlgo Trade Details
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Entry Price: 2.9762
Stop Loss: 3.44
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Target 1: 2.827
Target 2: 2.6256
Target 3: 2.4415
Target 4: 2.2552
Target 5: 2.124
Target 6: 1.999
Target 7: 1.619
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Timeframe:1D
Capital: 1-2% of trading capital
Leverage: 5-10x
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Enhance, Trade, Grow
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Regards
VectorAlgo

Yorum:

Price is slowly moving towards our first target

Yorum:

Target 1 Reached

Yorum:

Target 3 reached. Enjoy the profits

Yorum:

I hope everyone secured the profits. SHORT is over