PENDLE BUY POINTThe chart analysis of Pendle cryptocurrency highlights two strategic buy points based on support levels, confirmed by the Relative Strength Index (RSI), Fibonacci retracement levels, and the moving average.
The first buy point is around the 6.954 level, indicated by a consolidation zone (yellow rectangle). This suggests price stabilization and potential upward reversal. The recommendation is to buy when the price consolidates here, confirming support.
The second buy point is around the 6.440 level, also marked by a consolidation zone. This indicates robust support, and the strategy is to buy if the price consolidates in this area, indicating potential recovery.
The RSI, shown at the bottom of the chart, is at low levels at these buy points, suggesting the asset is not overbought and making these buy points technically attractive.
Fibonacci retracement levels from the recent peak indicate possible resistance and support levels. The current price is near the 0.382 level (7.142), a common reversal zone. The white line on the price chart represents the short-term moving average, indicating a recent uptrend. If the price retreats to the suggested buy points, it’s important to observe its interaction with the moving average, as sustaining above this line may reinforce the uptrend.
