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