$PENDLE has formed a weak consolidation at the 4H level, with prices suppressed below EMA20 (1.1381), and the rebound is weak.
🎯 Direction: No Position
Market Analysis: Prices fell back after being blocked at 1.1546, with the latest 4H candlestick closing at 1.1349. The buy/sell ratio of 0.53 shows a barely balanced strength between bulls and bears, but the overall structure is weak.
Logic Analysis: The key contradiction lies in the data. The funding rate of -0.0352% is negative, but open interest (OI) remains stable, which is not a typical short squeeze structure but rather a reflection of the market's lack of willingness to go long.
The depth order book shows that buy orders (Bids) are significantly thicker than sell orders (Asks), with an imbalance of 15.80%, which usually indicates support below, but prices are unable to effectively rebound, representing a weak signal of "passive support, active decline."
Prices are below all major EMAs (EMA20: 1.1381, EMA50: 1.2393), and the RSI at 45.43 is in a neutral to weak zone, with no oversold rebound momentum. Currently, there is a lack of clear support structure and high-probability entry points, with risks outweighing opportunities.
Trade here 👇$PENDLE
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