Pendle Surges 20% as Price Breaks $5 Barrier

Pendle (PENDLE) has broken through the $5 level for the first time today, triggering renewed enthusiasm among traders and analysts. The token surged over 20% in the past 24 hours, reaching $5.315 as of the latest data. This sharp rise came with a 242% increase in trading volume, indicating strong buyer interest and momentum [1]. The breakout has been attributed to technical indicators showing a favorable bullish setup, along with a general sense of optimism among market participants.

On the technical front, the price has already surpassed a key resistance level at $5. A sustained close above $5.5 could act as a catalyst, potentially propelling PENDLE toward the $6 level, which was last reached in late 2024 [1]. The Bollinger Band analysis shows that the price is expanding into a bullish range, supported by the mid-band at $4.362. Meanwhile, the MACD line has crossed above the signal line, reinforcing the bullish momentum [1].

Support levels are currently positioned at $5.00, $4.50, and $4.00, with traders monitoring these areas for potential retracements. These levels have historically been significant in terms of volume and activity, and a retest could provide further insight into the token’s trajectory. However, any consolidation below $5.00 could signal a loss of bullish momentum and trigger a correction [1].

While the broader cryptocurrency market has shown mixed performance, the Pendle breakout has occurred in a relatively isolated environment. Regulatory developments in China, including directives to halt stablecoin-related seminars and research, continue to influence the market sentiment [3]. These measures aim to curtail speculative activities and reduce the risks associated with high-volatility assets. Despite such efforts, unofficial trading remains active in over-the-counter markets [3].

Analysts emphasize that PENDLE’s ability to sustain its upward movement will depend on maintaining volume and achieving a clean break above $5.5. A confirmation of this level could offer psychological support to buyers and enhance confidence in the token’s potential. However, there is no concrete evidence yet that $6 is an immediate target. The market remains cautious due to the volatile nature of the asset class and the absence of fundamental improvements in the broader crypto landscape [1].

Separate developments involving other crypto projects, such as Powerledger (POWR), suggest a wider interest in price predictions, though such forecasts are speculative and not backed by actual market performance [2]. As with any speculative asset, investors are advised to approach with caution and monitor technical indicators alongside broader market dynamics.

[1] Pendle Price Hits $5 Today, Will It Reach $6 Next? (https://www.cryptotimes.io/2025/08/09/pendle-price-hits-5-today-will-it-reach-6-next/)

[2] Powerledger (POWR) Price Prediction 2025 2026 2027 (https://changelly.com/blog/powerledger-powr-price-prediction/)

[3] China Tells Brokers to Halt Stablecoin Seminars and Reports (https://www.cryptotimes.io/2025/08/08/china-tells-brokers-to-halt-stablecoin-seminars-and-reports/)