Pendle (PENDLE) has surged impressively in the last 24 hours, breaking the critical $5 resistance level with a 20%+ price jump fueled by heavy trading volume. The token’s current price stands at around $5.315, marking a significant bullish breakout for traders and investors alike.
The trading volume has increased by over 240%, signaling strong buyer interest. Technical indicators support this momentum — the Bollinger Bands show expansion, suggesting increased volatility and bullish potential, while the price has found support at the 20-day Simple Moving Average (SMA) around $4.36.
The MACD line crossing above its signal line further hints at a bullish crossover, aligning with the rising volume. Immediate support for Pendle now sits at $5.00, with secondary supports at $4.50 and $4.00. These levels are important for maintaining the bullish trend.
To push further toward $6, Pendle must maintain its current momentum and close cleanly above the $5.50 mark. If buyers stay strong, the next key target is $6, last seen in late 2024. Traders should watch volume closely as it will be critical to sustaining this upward trend.
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