The cryptocurrency market is regaining momentum at the start of the week, with altcoins experiencing renewed buying interest. Among the standout performers, Pendle (PENDLE) has reached a market price of $4.52—an 18% increase over the past 30 days. This surge has sparked growing speculation about whether Pendle is poised for a major breakout, with investors eyeing a potential rally toward $6.98 and even $10.
As market sentiment improves and recovery trends solidify, many are turning their attention to Pendle’s technical structure and long-term potential. Could this DeFi innovator be on the verge of a bull run that pushes its market cap toward $1 billion? Let’s dive into the latest price action, technical indicators, and key resistance levels shaping PENDLE’s trajectory.
Pendle Breaks Key Trendline Amid Bullish Momentum
Pendle’s price action has taken a decisive turn following a breakout above a critical four-year resistance trendline. The move was accompanied by a strong V-shaped reversal, signaling robust buyer conviction. From its recent low of $1.82 during the pullback phase, PENDLE has surged approximately 148%, reinforcing the strength of the current uptrend.
This recovery has established a new local support base and pushed the price above both the 50-day and 200-day Exponential Moving Averages (EMAs)—a bullish configuration often referred to as a "golden crossover." This technical signal suggests increasing long-term momentum and growing investor confidence.
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However, the path ahead isn’t without resistance. The current price faces overhead pressure near a descending trendline, forming a rising wedge pattern on the daily chart. While rising wedges can sometimes signal reversals, the internal structure of this pattern reveals a more nuanced story.
Double Bottom Formation Hints at Further Upside
Within the rising wedge, Pendle is exhibiting characteristics of a double bottom reversal pattern. The first bottom formed near $1.82, while the second found support higher, reflecting stronger buying at lower levels. The neckline of this pattern sits around **$5.15**, which now acts as a pivotal breakout level.
Additionally, recent intraday action shows signs of a tweezer bottom formation—a short-term bullish signal that occurs when two consecutive candlesticks reject the same low. Combined with a 2.84% intraday gain following a 3.96% drop, this suggests that selling pressure may be exhausting, and buyers are stepping in aggressively.
Technical Indicators: Confirming or Cautioning?
While price action paints an optimistic picture, technical indicators offer a more balanced perspective.
RSI: No Bullish Divergence Yet
The Relative Strength Index (RSI) on the daily chart currently shows no clear bullish divergence. Typically, such divergence appears when price makes lower lows but RSI makes higher lows—signaling weakening bearish momentum. Its absence here suggests that the rally may still be in its early stages and could benefit from further consolidation before a sustained breakout.
Still, RSI remains above 50, indicating that bullish momentum is in control despite short-term volatility.
EMA: Golden Crossover Supports Uptrend
The 50-day EMA crossing above the 200-day EMA confirms the golden crossover, a hallmark of long-term bullish trends. More importantly, the 50-day EMA is now acting as dynamic support during pullbacks, preventing sharp corrections and providing a floor for accumulating investors.
This confluence of support—both from moving averages and historical trendlines—enhances the credibility of the current uptrend.
Can Pendle Reach $6.98—and Eventually $10?
The immediate target for Pendle lies at **$6.98**, corresponding to the 100% Fibonacci extension level derived from the recent swing low to high. A breakout above the $5.15 neckline would likely accelerate momentum toward this target.
Beyond that, if broader market conditions remain favorable and investor appetite for DeFi tokens strengthens, PENDLE could extend gains to the 1.618 Fibonacci level near $9.94**. Reaching this zone would effectively double the current price and bring it close to the psychologically significant **$10 milestone.
Such a move would also propel Pendle’s market capitalization toward $1 billion, placing it among the upper tier of DeFi projects by valuation.
Frequently Asked Questions (FAQs)
What is the current price of Pendle (PENDLE)?
As of now, Pendle (PENDLE) is trading at approximately $4.52. The token has shown strong recovery momentum over the past month, gaining around 18% amid improving market sentiment.
Is Pendle expected to surpass $5?
Yes—chances are increasing. With PENDLE already showing intraday gains and forming bullish reversal patterns like the double bottom and tweezer bottom, a move above $5.15 is becoming more likely in the near term.
What is the significance of the $6.98 price target?
The $6.98 level represents the 100% Fibonacci extension from Pendle’s recent price swing. It aligns with the upper boundary of the rising wedge breakout target and serves as a realistic near-term objective if bullish momentum continues.
Could Pendle reach $10 in 2025?
While not guaranteed, a rally to $10** is plausible under favorable conditions. This would require sustained DeFi sector growth, increased protocol adoption, and broader crypto market strength. The 1.618 Fibonacci extension points to **$9.94, making $10 a psychologically significant and technically supported target.
Is Pendle a legitimate DeFi project?
Yes. Pendle Finance is a decentralized finance (DeFi) protocol focused on yield tokenization. It allows users to separate future yield from principal assets and trade them as distinct tokens—offering innovative ways to hedge or speculate on interest rate movements across protocols like Aave and Lido.
Is Pendle an AI cryptocurrency?
No. Despite some confusion, Pendle is not an AI-based coin. It operates within the DeFi ecosystem, specializing in structured products for yield optimization. Its core functionality revolves around financial engineering rather than artificial intelligence or machine learning applications.
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Final Thoughts: A High-Potential Play in DeFi
Pendle’s recent breakout and technical setup suggest it’s entering a critical phase. With key indicators aligning—golden crossover, rising volume, and bullish chart patterns—the stage could be set for a significant rally.
While caution is warranted due to the rising wedge’s inherent risk of reversal, the presence of strong support levels and increasing institutional interest in yield-based DeFi products adds credibility to the bullish outlook.
For investors watching the DeFi space closely, Pendle represents a compelling opportunity—not just as a speculative asset, but as an innovator in yield management infrastructure.
As always, conduct thorough research and consider risk management strategies when positioning for potential breakouts. The journey from $4.50 to $10 won’t be linear, but with macro tailwinds and solid fundamentals, Pendle may well be one of 2025’s standout performers.
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