Pendle

Rally

The post <a href="https://coinpedia.org/price-analysis/pendle-price-breaks-major-trendline-offers-50-upside-rally/" rel="noopener noreferrer nofollow">PENDLE Price Breaks Major Trendline, Offers 50% Upside Rally</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
As the broader market temperament stays highly volatile, the PENDLE price jump paints a strong uptrend ready for a bullish marathon. With the overnight jump of 9.12%, Pendle surpasses the $5 milestone, revealing a massive demand surge.&nbsp;
The protocol teases a new all-time high formation with the market cap approaching the billion-dollar mark. If the broader market outlook remains positive, the altcoin may soon reach $10. Let’s look at the PENDLE price analysis for a deeper understanding.&nbsp;
<h2 class="wp-block-heading" id="h-pendle-price-breaks-the-trendline">Pendle Price Breaks The Trendline</h2>
With a bullish reversal from the $4.65 mark, the PENDLE price action concludes the pullback phase. The altcoin price has increased by 21% within a week and surpasses the $5 mark. Further, a morning star pattern formation is now visible in the daily chart.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXf4VCGEEvcUxSRhGJtnIWZPoqDYqjDl1elywu6yxJdZ-RB6YlR8TCcm_x_wqTJ5CRVR-4f0BNW3jBEHXGdtvF5vb5oWbs8Zh19IGFX4dnMHEJsb9UZsQ_0snKlPUI_doIZvgL3QWJSe_gYLBWvefIKcYxk?key=Sv1iPkazUdqO7ttcMG_bxA" alt="">
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<a href="https://www.tradingview.com/x/liHpO3DK/" rel="noopener noreferrer nofollow">Tradingview</a>
In a smaller 4H timeframe, the bull run in the PENDLE price breaks past the resistance trendline. It concludes the lower high formation and overcomes the previous swing high at $5.70.
Currently, the PENDLE price trades at $5.96 with an intraday gain of 2.34%, making another intraday green candle. Further, the market cap of the altcoin stands at $925 million, with a surge in trading volume supporting the bull run.
Technical Indicators:
RSI: The daily RSI line shows an uptrend in motion, crossing above the halfway line. This reveals an increment in the bullish momentum and teases an uptrend.
EMA: The uptick in the 50 EMA in the 4H chart shows a bullish reversal and is ready to cross above the 200 EMA. This will result in a golden crossover and cement the uptrend chances for PENDLE price.&nbsp;
<h2 class="wp-block-heading" id="h-will-pendle-reach-10">Will PENDLE Reach $10?</h2>
As per the trend-based Fibonacci levels, the uptrend surpasses the crucial mark of the 50% line at $5.51. Further, the increased momentum, with a 9.12% jump overnight and a morning star pattern, projects massive uptrend chances in the PENDLE price.&nbsp;
With the breakout rally, the Fibonacci levels reveal an optimistic target for PENDLE at $9.16 with the 1.618 level.&nbsp;

PENDLE Price Breaks Major Trendline, Offers 50% Upside Rally

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