【$PENDLE Signal】Pullback to Buy! 1H Oversold Rebound + 4H Key Support Resonance

$PENDLE The 1H timeframe shows a sign of stabilization at the key support zone, with the price significantly deviated from the short-term moving averages, and RSI entering oversold territory, indicating a technical rebound demand. Although the 4H timeframe is in a downtrend channel, the price is testing the lower boundary of a previous dense trading zone, with open interest remaining stable and no signs of panic selling. Currently, buy-side order depth is accumulating around 1.260, providing initial support for the rebound.

🎯Direction: Long (Pullback to Enter)

⚡Entry/Order: 1.245 - 1.255

🛑Stop Loss: 1.235

🚀Target 1: 1.285

🚀Target 2: 1.305

🛡️Trade Management:

- Execution Strategy: After reaching Target 1, reduce position by 50% and move the stop loss to the entry price. Hold the remaining position to aim for Target 2. If the price retraces and breaks below the moving stop loss, exit all positions.

(Depth Logic: The 1-hour RSI has fallen to 38, indicating short-term oversold conditions with a need for correction. The 4-hour price is testing the EMA50 (around 1.266) and previous support levels. Despite market signals suggesting a decline, open interest remains stable, indicating this is not purely a long squeeze but possibly driven by main players supporting or accumulating. The strong support zone after 1.220-1.245 is an optimized area for positioning, representing an ideal entry zone. Negative funding rates also reduce the cost of holding long positions. )

View real-time quotes 👇 $PENDLE

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