Technical analysis by CScalp_EN about Symbol PENDLE: Buy recommendation (5/16/2024)

LONG #PENDLEUSDT from $4.5059 30m TF. A level with several touches has formed on the instrument, beyond which I expect to see the stops of the participants' shorts, allowing them to cover a small area of imbalance. There was also an active compression of price lows, which indicates the local strength of buyers.The entry signal will be a trade near the level with reduced volatility and, before the movement itself, an acceleration of the tape of transactions with an increase in volumes.