Is Pendle Price About to Shock the Market?
The post Is Pendle Price About to Shock the Market? appeared on BitcoinEthereumNews.com. Pendle (PENDLE) price has shown renewed momentum with strong daily and hourly patterns suggesting a possible breakout. From the Heikin Ashi charts, we observe significant bullish sentiment emerging across both timeframes. Let’s dive into the technical analysis and make some projections for the coming days based on the latest market structure of Pendle Price. Pendle Price Prediction: What’s Happening on the Daily Chart? PENDLE/USD Daily Chart- TradingView The daily chart reveals a steady climb with a recent price of $4.27, marking a +4.35% daily move. A key observation is the price’s consistent hold above the 20-day SMA, now sitting around $3.76, signaling a bullish continuation. The longer-term 50-day and 100-day SMAs (around $3.41) are trailing far below, confirming that medium and long-term momentum is still in favor of the bulls. A tight consolidation was seen just below the resistance at $4.33, which now looks poised to be broken. On May 20, Pendle tested this level with a high of $4.48, which suggests increasing buying pressure. If the resistance breaks and sustains above $4.33, the next Fibonacci extension levels indicate a potential target of $4.80, and beyond that, $5.55. To put it in numbers, a close above $4.33 with a daily RSI above 60 (not shown but implied from trend steepness) could offer a 15%–30% upside. Support lies around $4.00 and $3.76, and as long as price doesn’t close below $3.76, the bullish structure remains valid. What Does the Hourly Chart Indicate? PENDLE/USD 1 Hr Chart- TradingView Zooming into the 1-hour chart, Pendle price surged to $4.48, followed by a healthy consolidation. This is evident from the short cluster of Heikin Ashi candles near the highs, showing reduced volatility—often a precursor to the next move. Interestingly, the price is holding above all major moving averages, with the 20, 50, and 100-hour…
The post Is Pendle Price About to Shock the Market? appeared on BitcoinEthereumNews.com.
Pendle (PENDLE) price has shown renewed momentum with strong daily and hourly patterns suggesting a possible breakout. From the Heikin Ashi charts, we observe significant bullish sentiment emerging across both timeframes. Let’s dive into the technical analysis and make some projections for the coming days based on the latest market structure of Pendle Price. Pendle Price Prediction: What’s Happening on the Daily Chart? PENDLE/USD Daily Chart- TradingView The daily chart reveals a steady climb with a recent price of $4.27, marking a +4.35% daily move. A key observation is the price’s consistent hold above the 20-day SMA, now sitting around $3.76, signaling a bullish continuation. The longer-term 50-day and 100-day SMAs (around $3.41) are trailing far below, confirming that medium and long-term momentum is still in favor of the bulls. A tight consolidation was seen just below the resistance at $4.33, which now looks poised to be broken. On May 20, Pendle tested this level with a high of $4.48, which suggests increasing buying pressure. If the resistance breaks and sustains above $4.33, the next Fibonacci extension levels indicate a potential target of $4.80, and beyond that, $5.55. To put it in numbers, a close above $4.33 with a daily RSI above 60 (not shown but implied from trend steepness) could offer a 15%–30% upside. Support lies around $4.00 and $3.76, and as long as price doesn’t close below $3.76, the bullish structure remains valid. What Does the Hourly Chart Indicate? PENDLE/USD 1 Hr Chart- TradingView Zooming into the 1-hour chart, Pendle price surged to $4.48, followed by a healthy consolidation. This is evident from the short cluster of Heikin Ashi candles near the highs, showing reduced volatility—often a precursor to the next move. Interestingly, the price is holding above all major moving averages, with the 20, 50, and 100-hour…
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