The PENDLE price rally is gaining serious momentum. After hitting a low of $1.81 on March 11, the altcoin has climbed 135%, now trading at $4.16. This surge places PENDLE among today’s top-performing cryptocurrencies, with a daily gain of 15%.
Steady Climb in Ascending Channel
Since mid-March, PENDLE has followed a consistent upward trend within an ascending parallel channel. This pattern, marked by higher highs and higher lows, suggests that buyers are firmly in control. Such price action usually points to sustained bullish momentum in the short term.
Technical Indicators Confirm Bullish Sentiment
MACD Signal Points to Continued Upside
One of the key indicators backing this rally is the Moving Average Convergence Divergence (MACD). Currently, PENDLE’s MACD line is well above its signal line. This crossover signals strong buying pressure and potential for continued price growth.
Ichimoku Cloud Signals Strength
PENDLE’s price has also broken above the Ichimoku Cloud, a well-known indicator for trend direction and momentum. Trading above this cloud confirms a bullish trend, giving traders additional confidence in the ongoing rally.
Can PENDLE Break Past $4.48?
At $4.16, PENDLE is approaching a significant resistance level at $4.48. If bulls manage to break through and turn this level into support, the next target is $5.10—last reached in early January.
However, if sellers step in, the token could retreat to $3.85. A failure to hold this level may result in further decline, with support at $3.07.
Outlook: Momentum Remains Strong
For now, the PENDLE price rally looks healthy, driven by increasing volume and favorable technical signals. As long as buying interest remains strong, the altcoin could continue its climb in the days ahead.
