Disclaimer: This is not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results.

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Pendle ($PENDLE):

Overview

Pendle has continued its downtrend after rejecting the $3.66 resistance, which was highlighted in the previous analysis. The price failed to sustain above the $3.36 level as well, leading to a breakdown from the consolidation range. As a result, Pendle is now heading toward a key support zone.

Analysis & key levels

• Support levels:
  • $2.80 - $2.38 (Grey Zone) → Major demand zone that has historically provided strong reactions.
  • $2 → Huge Psychological support and previous structural low.
• Resistance levels:
  • $3.36 → Previous support, now acting as a resistance.
  • $3.66 → Key level where price rejected previously.

Potential scenarios

1. Bullish scenario:
   • If $2.80 - $2.38 (grey demand zone) holds, we could see a bounce and potential reversal.
   • A successful reclaim of $3.66 would confirm bullish strength.
2. Bearish scenario:
   • If the grey zone fails to hold, we could see further downside toward $2.
   • This would indicate further weakness and continuation of the current downtrend.

Cryptonary's take

Pendle is still in a downtrend, with prices making lower highs and lower lows. The next critical area to watch is the $2.80 - $2.38 support zone, where a reaction could lead to a bounce. However, waiting for confirmation before taking action is key.

If the grey zone fails, further downside toward $2 is possible. Until $3.66 is reclaimed, Pendle remains in a bearish structure, and caution is advised. Patience is key in these conditions, as we wait for clear signs of accumulation or reversal.

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XRP ($XRP) 4H timeframe analysis:

Overview

XRP has rejected the $2.758 resistance and formed a double-top type of formation at that level, signalling short-term weakness. The price is currently trading at $2.47, inside the broader consolidation range. Choppiness remains high, making it a waiting game until a decisive move occurs.

Analysis & key levels

• Support levels:
  • $2.25 - $2.30 → Intermediary support where price may temporarily stabilize.
  • $1.96 (Range Low) → Major support and potential bounce zone.
• Resistance levels:
  • $2.758 (Range High) → Key rejection area, forming a double top.
  • $3.31 → Major resistance in case of an upside breakout.

Potential scenarios

1. Bullish scenario:
   • If XRP holds above $2.25 and starts reclaiming levels, we could see a move back toward $2.758.
   • A breakout above $2.758 with volume would indicate strength and continuation toward $3.31.
2. Bearish scenario:
   • If XRP loses $2.25, it will likely retest $1.96, which is the bottom of the range.
   • A break below $1.96 would confirm further downside, leading to a deeper correction.

Cryptonary's take

XRP remains stuck inside a choppy range, with no clear breakout or trend confirmation yet. The double top rejection from $2.758 suggests further downside, but range-bound conditions persist.

Right now, patience is key-XRP needs to either reclaim strength above $2.758 or break below $1.96 to present a clearer move. Waiting for better confirmation before taking action is the best approach in such a choppy environment.

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