Technical analysis by AtresCryptoAcademy about Symbol PENDLE: Buy recommendation (7/20/2025)

PENDLEUSDT 1D Chart Analysis | Bullish Breakout Eyes Higher Targets 🔍 Let’s break down the PENDLE/USDT daily chart, focusing on breakouts above key resistance, Fibonacci retracement dynamics, RSI momentum, and volume confirmation for a comprehensive bullish setup. ⏳ Daily Overview PENDLE has staged a powerful recovery after pulling back to the 0.5 Fibonacci retracement level (around $3.12). Price is now testing the critical $4.68 resistance—the ceiling from the last corrective wave. RSI has jumped above 71, entering the overbought zone, a classic precursor to strong momentum moves. Volume is rising as bulls attempt a breakout, confirming participation behind the price action. 📈 Technical Convergence and Trend Structure - Fibonacci Structure: The correction held the 0.5 retracement, a textbook bullish reversal zone in rising trends. - Resistance Breakout: Price is challenging the $4.68 resistance. A daily close above, especially with high volume, would confirm the breakout and trigger bullish continuation. - RSI Indicator: RSI has cleared the 70 mark, reinforcing strong momentum. Overbought RSI often supports further rallies when backed by breakout moves and rising volume. - Volume Confirmation: Volume surged as PENDLE reclaimed lost ground and is now accelerating into the resistance test, suggesting trend conviction and confirming the move. 🔺 Bullish Setup & Targets - First target: $5.54 — the next resistance based on historical supply and Fibonacci extension. - If macro conditions like interest rate cuts align, the next potential target: $7.50 — the major extension target where price discovery is likely. - Key trigger: A strong daily (or weekly) close above $4.68, combined with breakout volume, is likely to ignite the next leg up. 📊 Key Highlights - Correction held at the 0.5 Fibo, signaling trend health and resetting momentum. - A bullish daily structure aligned with a weekly breakout confluence. - RSI and price action both making new local highs — strong uptrend indication. - Volume confirming the move—a real breakout is underway, not a false start. 🚨 Conclusion PENDLE/USDT looks primed for continuation higher. The blend of a successful 0.5 retracement retest, breakout attempt above $4.68, robust RSI, and volume surge all point to bullish follow-through. Watch for a confirmed close above resistance as the catalyst for further upside, with $5.54 and $7.50 the next logical targets if momentum persists.