Alikze »» Pendle | Pullback to broken structure
Updated
🌐 About Pendle currency:
Pendle is indeed a cutting-edge protocol in the DeFi space, designed to allow users to tokenize and trade potential future earnings from their investments.
By introducing an innovative Automated Market Maker (AMM) that accommodates assets experiencing time decay, Pendle offers a unique solution that grants users enhanced control over their future yield.
🔍 Technical analysis:
It is moving in an ascending channel in the daily and 12H time frames.
💎 After meeting with the trigger and the bottom of the ascending channel, it encountered demand, which continued up to the major ceiling.
💎 Currently, it has faced selling pressure at its major ceiling and midline of the channel, which it has not been able to overcome.
💎 Therefore, due to the fact that a correction structure has been formed, it is expected that with the continuation of the correction to the bottom of the channel and the range of the green box, there will be a pullback to the broken structure.
💎 Alternative scenario: if the supply zone is broken and placed above the midline of the channel, it can experience the continuation of the upward trend up to the ceiling of the channel.
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Total supply: 258,446,028 PENDLE
Circulating supply:154,009,988 PENDLE
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Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future.
Thanks for your continued support.
Best Regards,❤️
Alikze.
»»»«««»»»«««»»»«««
Pendle is indeed a cutting-edge protocol in the DeFi space, designed to allow users to tokenize and trade potential future earnings from their investments.
By introducing an innovative Automated Market Maker (AMM) that accommodates assets experiencing time decay, Pendle offers a unique solution that grants users enhanced control over their future yield.
🔍 Technical analysis:
It is moving in an ascending channel in the daily and 12H time frames.
💎 After meeting with the trigger and the bottom of the ascending channel, it encountered demand, which continued up to the major ceiling.
💎 Currently, it has faced selling pressure at its major ceiling and midline of the channel, which it has not been able to overcome.
💎 Therefore, due to the fact that a correction structure has been formed, it is expected that with the continuation of the correction to the bottom of the channel and the range of the green box, there will be a pullback to the broken structure.
💎 Alternative scenario: if the supply zone is broken and placed above the midline of the channel, it can experience the continuation of the upward trend up to the ceiling of the channel.
»»»«««»»»«««»»»«««
Total supply: 258,446,028 PENDLE
Circulating supply:154,009,988 PENDLE
»»»«««»»»«««»»»«««
Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future.
Thanks for your continued support.
Best Regards,❤️
Alikze.
»»»«««»»»«««»»»«««
Note
According to the behavioral scenario after selling pressure in the middle of the channel after the pullback to the broken structure, it has corrected more than 25% to the bottom of the ascending channel and the green box. 
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