PENDLE has surged by 15% today, leading the cryptocurrency market's gains. This upward momentum follows a period of strong accumulation after hitting a year-to-date low of $1.81 on March 11. Since then, the token has traded within an ascending parallel channel, signaling a sustained bullish trend.
PENDLE's 135% Rally in Two Months
PENDLE has climbed 135% from its March low, now trading at $4.16. The token's price movement within the ascending channel highlights consistent higher highs and higher lows—a bullish indicator for traders.
Key Technical Indicators Supporting the Rally
- MACD Bullish Signal: The Moving Average Convergence Divergence (MACD) line remains well above its signal line, suggesting strong buying activity.
- Ichimoku Cloud Breakout: PENDLE has risen above the Leading Spans A and B of its Ichimoku Cloud, confirming bullish dominance.
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Resistance at $4.48: Will PENDLE Break Through?
PENDLE faces a critical resistance level at $4.48**. A breakout above this could propel the token toward **$5.10, a price last seen in early January.
Potential Scenarios:
- Bullish Case: Sustained buying pressure flips $4.48 into support, targeting $5.10.
- Bearish Rejection: Profit-taking could push PENDLE down to $3.85** or even **$3.07 if support weakens.
FAQs
Q: What’s driving PENDLE’s price surge?
A: Accumulation after March’s low, MACD bullishness, and Ichimoku Cloud breakout are key factors.
Q: Is PENDLE a good short-term trade?
A: While indicators are bullish, watch the $4.48 resistance closely for confirmation.
Q: Where can I track PENDLE’s price trends?
A: Platforms like TradingView provide real-time charts and technical analysis.
👉 Learn more about trading strategies for volatile altcoins
Key Takeaways
- PENDLE’s 135% rally reflects strong market confidence.
- A **$4.48 breakout** could open the path to $5.
- Monitor MACD and Ichimoku signals for trend reversals.
Always conduct independent research before investing. Market conditions can change rapidly.
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