Pendle Price Surges 4.35% Daily, Bullish Breakout Imminent

Pendle (PENDLE) has recently exhibited strong momentum, with both daily and hourly charts indicating a potential breakout. The Heikin Ashi charts reveal a significant bullish sentiment across these timeframes, suggesting that the price of Pendle could be on the verge of a substantial move.

The daily chart shows a steady upward trend, with the current price at $4.27, reflecting a +4.35% daily increase. The price has consistently held above the 20-day Simple Moving Average (SMA), which is around $3.76, indicating a bullish continuation. The 50-day and 100-day SMAs, both around $3.41, are trailing far below, confirming that medium and long-term momentum remains bullish.

There has been a tight consolidation just below the resistance level at $4.33, which appears ready to be broken. On May 20, Pendle tested this level with a high of $4.48, indicating increasing buying pressure. If the resistance at $4.33 is broken and sustained, the next Fibonacci extension levels suggest potential targets of $4.80 and beyond that, $5.55. A close above $4.33 with a daily Relative Strength Index (RSI) above 60 could offer a 15%–30% upside. Support levels are around $4.00 and $3.76, and as long as the price does not close below $3.76, the bullish structure remains intact.

On the hourly chart, Pendle's 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, which often precedes the next move. The price is holding above all major moving averages, with the 20, 50, and 100-hour SMAs tightly packed between $4.05–$4.28. This setup forms a classic support band that historically acts as a springboard for breakouts. As long as Pendle stays above $4.28, the uptrend remains protected.

In the short term, bulls may retest $4.48 again. If volume picks up and breaks this resistance, Pendle could spike toward $4.80 quickly, offering a gain of nearly 11% from current levels. If Pendle price closes daily candles above $4.33 and follows a standard measured move based on the last breakout leg ($3.50 to $4.33 = $0.83), the next target becomes $5.16. This aligns closely with the upper Fibonacci projection on the daily chart. So, a conservative target would be $4.80, while an aggressive move could take Pendle to $5.16–$5.55 if broader market conditions support the rally.

The current structure of Pendle price favors buying the breakout above $4.33 with a stop-loss at $4.00. Pendle has built a solid base and appears to be forming a bullish flag pattern on the daily chart. As the hourly candles squeeze tighter near resistance, traders should stay alert for a sharp breakout in either direction. All signs point toward an imminent breakout. If momentum continues, Pendle price could enter price discovery above $5.00, making it a top altcoin to watch this week.