Pendle gains over 7% after buyers regain control near support zone

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Pendle jumps 7.37% to $1.5 today

Highlights

Pendle price action remains bullish in the short to medium term, with strong momentum and buyer dominance observed.
Despite the rally, multiple oscillators indicate overbought conditions, suggesting potential for near-term profit-taking or consolidation.
Price is expected to trade between $1.441 and $1.564 over the next 2–3 days, with immediate support at $1.4285 and high probability of further gains if resistance is breached.

Bullish momentum meets overbought signals above key supports

On the technical front, Pendle is trading above the 20- and 50-period moving averages on the hourly chart, while remaining below the 200-period moving average on the daily timeframe. Immediate support is marked by the Ichimoku Kijun level at $1.4285. The Moving Average Convergence Divergence (MACD) signals a buying trend and the Average Directional Index (ADX) remains neutral. Momentum indicators show the Relative Strength Index (RSI) at 66 and the Commodity Channel Index (CCI) in overbought territory, with the Stochastic RSI similarly indicating overbought conditions. Bull/Bear Power suggests the dominance of buyers, while the Awesome Oscillator (AO) is neutral, pointing to a lack of clear confirmation from this metric.

Upside potential as breakout risk overshadows limited downside

Over the next 2–3 trading days, PENDLE is expected to trade within a range of $1.441 to $1.564. The probability of further upward movement is very high, with limited downside risk unless the price falls below immediate support at $1.4285. Should bullish momentum persist, a breakout above the upper resistance may target the top of this volatility band, while sustained consolidation within the stated range remains possible if momentum stalls.

Anton Kharitonov, expert at Traders Union, notes that Pendle shows technical strength above key moving averages, with momentum indicators signaling overbought conditions. He sees buyer dominance, but also recognizes that the price is still below long-term resistance and the ADX remains neutral. Kharitonov remains cautious, as no fundamental news supports the rally and overbought signals suggest limited upside. "Base case remains a contained range unless $1.4285 support fails — for now, bulls should remain vigilant."

Earlier, analysts noted that Pendle’s technical rallies were marked by overbought momentum and a potential for either continuation or reversal depending on the breakout from consolidation. The latest price action, supported by renewed bullish signals and a tighter volatility range, suggests traders should monitor for a decisive move above resistance, which could shift the medium-term outlook further in favor of buyers.

Source of Data: PENDLE Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.