Pendle Shows Potential to Reach $55 as Recovery ContinAnalyzing the PENDLE USDT 12H chart, it has shown high volatility, with sharp variations in the Bollinger bands, which indicates a possible continuation of the recovery movement.
Currently, the price is moving between the levels of $3,919 (support) and $7,250 (resistance), with a strengthening trend. This suggests that if the support at $3,919 is maintained and the price continues to approach the upper bands, we may see a new attempt to test the resistance at $7,250, which would open the doors to a possible much more significant appreciation, with $55 being a plausible target in the medium-term scenario.
Support: $3,919
Resistance: $7,250
The RSI and Stochastic indicate that the asset is in an overbought zone but is not completely stretched, which means that there may be more room for appreciation, although caution should be exercised regarding possible short-term corrections.
If PENDLE continues to be supported by these support levels, a breakout of the resistance and progress towards the $55 price becomes a possibility, especially considering the market recovery and the fundamentals that could drive the coin.
Liquidity is increasing, and the volume is trending positively, which favors continued appreciation, as long as investors remain confident in the metrics and market sentiment.
In summary, the analysis suggests that if the uptrend continues, PENDLE has the potential to reach $55 in the near future.
