PENDLE Token Surges 15%, Eyes $5 Breakout
The post PENDLE Token Surges 15%, Eyes $5 Breakout appeared on BitcoinEthereumNews.com. PENDLE has experienced a strong wave of accumulation following its decline to 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 rally. Today, PENDLE is up 15%, leading the market’s gains. With strengthening buying activity, the altcoin is poised to continue its rally. PENDLE Soars 135% in Two Months PENDLE has traded within an ascending parallel channel since March 11, reflecting its growing price over the past two months. At press time, the altcoin exchanges hands at $4.16, climbing 135% from the $1.81 price bottom. PENDLE Ascending Parallel Channel. Source: TradingView An ascending parallel channel is formed when an asset’s price moves between two upward-sloping, parallel trendlines, indicating consistently higher highs and higher lows. PENDLE’s rally within the channel suggests that its buyers continue to push the price upward while confidently maintaining control over pullbacks. Moreover, the setup of the token’s Moving Average Convergence Divergence (MACD) supports this bullish outlook. PENDLE’s MACD line (blue) currently lies significantly above its signal line (orange). PENDLE MACD. Source: TradingView The MACD indicator identifies an asset’s price trends and changes in its momentum. Traders use it to spot potential buy or sell signals through crossovers between the MACD and signal lines. As in PENDLE’s case, when the MACD line rests above the signal line, it is a bullish signal. It indicates that buying activity exceeds selloffs among traders and hints at a sustained price rally if bullish conditions persist. Furthermore, PENDLE’s triple-digit rally has pushed it above the Leading Spans A and B of its Ichimoku Cloud, confirming the buying pressure in the market. PENDLE Ichimoku Cloud. Source: TradingView The Ichimoku Cloud tracks the momentum of an asset’s market trends and identifies potential support/resistance levels. When an asset trades below this…
The post PENDLE Token Surges 15%, Eyes $5 Breakout appeared on BitcoinEthereumNews.com.
PENDLE has experienced a strong wave of accumulation following its decline to 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 rally. Today, PENDLE is up 15%, leading the market’s gains. With strengthening buying activity, the altcoin is poised to continue its rally. PENDLE Soars 135% in Two Months PENDLE has traded within an ascending parallel channel since March 11, reflecting its growing price over the past two months. At press time, the altcoin exchanges hands at $4.16, climbing 135% from the $1.81 price bottom. PENDLE Ascending Parallel Channel. Source: TradingView An ascending parallel channel is formed when an asset’s price moves between two upward-sloping, parallel trendlines, indicating consistently higher highs and higher lows. PENDLE’s rally within the channel suggests that its buyers continue to push the price upward while confidently maintaining control over pullbacks. Moreover, the setup of the token’s Moving Average Convergence Divergence (MACD) supports this bullish outlook. PENDLE’s MACD line (blue) currently lies significantly above its signal line (orange). PENDLE MACD. Source: TradingView The MACD indicator identifies an asset’s price trends and changes in its momentum. Traders use it to spot potential buy or sell signals through crossovers between the MACD and signal lines. As in PENDLE’s case, when the MACD line rests above the signal line, it is a bullish signal. It indicates that buying activity exceeds selloffs among traders and hints at a sustained price rally if bullish conditions persist. Furthermore, PENDLE’s triple-digit rally has pushed it above the Leading Spans A and B of its Ichimoku Cloud, confirming the buying pressure in the market. PENDLE Ichimoku Cloud. Source: TradingView The Ichimoku Cloud tracks the momentum of an asset’s market trends and identifies potential support/resistance levels. When an asset trades below this…
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