Technical analysis by Wyckoff_Analytics about Symbol PENDLE: Buy recommendation (9/28/2024)

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.wyckoffanalytics.com