- $PENDLE has faced three consecutive rejections at $7.20, making it a strong resistance level to monitor.
- The mid-band pivot near $5.40 is crucial for direction, while $3.70 remains the key support.
- A strong break above 07.20 could aim for 09.00– 10.00 but failure could generate additional decline towards 4.70 and 3.70.
$PENDLE has entered a decisive stage as its price structure reveals repeated resistance at $7.20. Following months of defined range trading, the token is now consolidating near $5.40, leaving traders to assess whether momentum favors a breakout or reversal.
Resistance Pressure at $7.20
Ali (@ali_charts) emphasized that $PENDLE has suffered three consecutive rejections at the $7.20 mark. Each rejection has confirmed the level as a strong supply zone where sellers continue to cap upside potential. This repeated pattern reflects profit-taking and limited momentum beyond that ceiling.
The current setup shows $7.20 acting as a psychological barrier that determines trend direction. Traders often view triple rejections as pivotal events. Either market pressure builds for an eventual breakout, or renewed selling sets in, extending consolidation.
For buyers, the challenge remains in establishing sustained volume above this level. A decisive close beyond $7.20 would restructure the market and shift sentiment toward further gains.
$5.40 as a Mid-Range Pivot
These levels are historically areas of balance wherein buyers and sellers fight over dominance.
The pair remains positive above the $5.40 level, letting the price retest the $6.00 position and even recheck at the $7.20 mark. An assertive recovery of this pivot would support the arguments of bullish extension.
Failure to hold above $5.40, however, risks weakening momentum. A breakdown at this zone could trigger further declines toward the next downside levels.
The Broader Range Structure
On the downside, $3.70 remains the foundation of the range. This support has previously absorbed sell pressure, creating rebounds that shaped the current structure. The loss of this level would amount to prolonged consolidation and low short-term assurance.
On the other hand, a break up above 7.20 would flip the structure in favor of the bulls. This action may pave the path to $9.00-10.00 and cross into new areas of higher valuation.
From Ali’s analysis, the chart reflects classic market psychology. Sellers defend the ceiling, while persistent buyers retest the same level, preparing for the next decisive move.
