PENDLE has formed a double bottom and moved past $4.13 while testing the 0.618 Fibonacci level.
Price may rally toward $8.25 and $10.21 if it breaks above the $4.50 resistance with strong follow-through.
Volume and trend now support upside action as long as PENDLE holds above the recent breakout zone.
PENDLE has moved above the 0.618 Fibonacci retracement level, forming a double-bottom pattern with momentum building toward $8.245 and $10.214. As of May 13, 2025, chart data shows a breakout forming near $4.13, with resistance at $4.50 acting as the next confirmation point. Weekly chart insights from @VipRose highlight a developing bullish structure driven by strong price recovery.
Source: X
The asset currently trades around $4.136 and is showing a reversal from a well-formed support zone. The double-bottom pattern emerging from this zone is supported by increasing volume and upward pressure, which suggests a shift in long-term trend behavior. If $4.50 is broken and sustained, it would confirm bullish continuation with high-probability targets mapped further up.
Traders now look at two key price objectives—$8.245 as the mid-term level, followed by $10.214 for the longer-term target. Both levels are based on technical extensions and historical structure visible on the weekly timeframe.
Double-Bottom Structure Signals Potential Reversal
A double-bottom formation often serves as a powerful reversal signal after prolonged downtrends. In this setup, PENDLE has formed two distinct lows within a marked rectangular support zone. Price has now rebounded from this base and advanced toward the 0.618 Fib level.
The visual chart shows multiple Fibonacci retracement levels overlaid from the last swing high to swing low. Price action has successfully breached the 0.618 mark and is approaching the 0.5 and 0.382 retracement levels. These levels often act as key resistance or pivot points in technical trading models.
Holding above the 0.618 Fibonacci zone increases the chances of PENDLE continuing toward higher levels. Traders are now focused on whether the current price can close and hold above $4.50, a level tagged in the post as the bullish continuation trigger.
Mid- and Long-Term Targets Set Above $8
Should the breakout from the double-bottom structure hold, analysts have identified $8.245 and $10.214 as technical targets. The first of these lies near the upper boundary of the descending trendline, where price was last rejected. The long-term target of $10.214 marks a full reversal of the prior drop.
The projection to $8.245 is a mid-term goal that aligns with previous weekly highs. Volume build-up and buyer interest suggest that price could move rapidly once resistance at $4.50 is cleared. The extended target at $10.214 represents a complete bullish breakout from the macro structure.
Market watchers are looking for confirmation through candle closes above resistance lines and ongoing strength in relative volume. If successful, this pattern may push PENDLE into a new phase of upward continuation. Failure to sustain above $4.50 could delay momentum and lead to a retest of the support box.
Can PENDLE Confirm Its Double-Bottom and Reach the $10.214 Target?
With PENDLE now pushing above key Fibonacci levels, the question is clear: can it hold above $4.50 and rally to $10.214?
The structure shows rising volume and a completed bottom pattern that signals trend reversal. All attention now shifts to price behavior near $4.50 and whether that breakout can turn into lasting support.
