$PENDLE
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The latest rally is losing steam. Price is having a hard time holding above the daily golden pocket, and RSI has now broken its trendline for the second time a clear sign that momentum is fading after the move from $1.644 to $2.390.
The 50 SMA around $2.056 is the key level to watch. A clean hold above it could shift the short-term structure and open a push toward $2.399, where the 100 SMA acts as resistance. However, volume continues to decline, suggesting this move is still corrective rather than a true reversal unless participation picks up.
If price fails to reclaim the 50 SMA, downside pressure remains. A break below $1.923 and $1.797 would put $1.688 back in play, with structure already trending lower within the descending channel.
