$PENDLE Pendle has been showing notable price action recently. PENDLE broke through $2.95, briefly reached $3.08, and then settled around $3.02. This movement suggests a test of key resistance levels, with $3.08 acting as a critical threshold. The price cooling off to $3.02 without significant volume spikes or panic selling implies a controlled reaction rather than a volatile swing, which is a positive sign for stability in the short term.
PENDLE appears to be in a consolidation phase with mild bullish undertones.
A consolidation range with support around $2.80ā$2.85 and resistance near $3.00. Todayās push above $3.00, even if temporary, indicates potential bullish momentum.
PENDLE forming an inverse head and shoulders pattern, a bullish reversal signal, with the price attempting to break the neckline. This is supported by the Ichimoku Cloud showing bullish momentum, reinforcing the potential for an upward move if the breakout holds.
The Relative Strength Index (RSI) was reported as neutral (around 50) in late March, but with todayās price action, it may be edging higher, though still likely below overbought territory (70).
The Moving Average Convergence Divergence (MACD) has been cited as showing bearish tendencies recently (below the signal line), but a flattening or crossover could signal shifting momentum if buying pressure persists.
Key levels to watch:
Resistance: $3.08 (immediate), $3.30ā$3.50 (next targets).
Support: $2.88ā$2.95 (near-term), $2.80ā$2.85 (stronger base).
Volume: Steady volume today suggests no major sell-off, but a spike would confirm breakout strength.
PENDLEās technical outlook today leans cautiously bullish. The price is testing resistance, supported by bullish patterns like the inverse head and shoulders and Ichimoku signals. However, confirmation of a sustained move above $3.08 is critical for further upside. If it fails, expect a pullback to support levels where buyers might step in.
Not Financial Advice, DYOR!!
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