logo

This Chart Pattern Could Send Pendle (PENDLE) Price Exploding 300% – Here’s Why

By: captainaltcoin|2025/05/16 15:45:05
0
Share
copy
Pendle has emerged as one of the day’s top-performing tokens, recording a nearly 10% price increase and ranking among the top three gainers. At writing, the token is trading at $4.26 with a 24-hour trading volume surge of nearly 25%. Top analyst Master Ananda outlines a technical chart setup on X that could potentially support a PENDLE price move toward $11 and $16 within the next 3-6 months. The tweet mentions the presence of a long-term double bottom and Adam & Eve pattern, supported by a confirmed resistance flip on May 9.Read Also: Is It Too Late to Buy LTC? Litecoin Price PredictionPENDLE Technical Patterns Support Bullish ContinuationThe chart posted by Master Ananda indicates a well-defined technical structure with several historical resistance levels turning into support. The horizontal blue band, which has served as resistance across multiple months in 2024 and 2025, now acts as a confirmed support zone after the recent breakout. This zone lies near the current price of $4.15–$4.30.Multiple bullish patterns have formed, including a double bottom stretching from January to March 2025, with the neckline breaking earlier this month. This formation suggests a potential reversal in long-term trend direction. Alongside this, the Adam & Eve pattern, comprising a sharp V-shaped bottom followed by a rounded one, is also visible. These formations are typically associated with trend shifts and have now completed their breakout above the neckline zone.Source: X/MasterAnandaFurthermore, the chart includes Fibonacci retracement and extension levels that align with projected Pendle price targets. Key short-term resistance sits at the 0.618 and 0.786 Fibonacci levels, approximately at $5.25 and $6.50, respectively. Further extension levels place long-range targets at $11 and $16, assuming the bullish trend continues. These figures match those provided by Master Ananda in the tweet, reinforcing the forecast for continued upward movement.Support near the $2.00-$2.50 range has proven reliable during recent downtrends and could serve as a safety zone in case of short-term pullbacks. Current price behavior is consistent with accumulation and breakout strategies often seen before strong rallies.Read Also: Expert Predicts Cardano (ADA) Price Could Hit $1 Soon If This Happens..PENDLE Breakout Timing and Market BehaviorThe chart analysis suggests that Pendle price began its recovery from a March 11 low, moving gradually upward over the past two months. The May 9 breakout above resistance, followed by multiple days of successful retesting, marks a technical shift. Rising volume during the breakout phase and decreasing volume during pullbacks reflect healthy trading activity, further supporting bullish momentum.The price structure now features higher highs and higher lows. This setup, paired with tested support, sets the stage for a potential consolidation period before further upside. If momentum holds, reaching the previously mentioned targets within the 3–6 month window is technically possible.Analyst Perspective and Community SentimentMaster Ananda’s tweet outlines a clear technical roadmap, backed by chart evidence. The suggestion that the market cycle is shifting is consistent with both volume behavior and price structure. Traders tracking Pendle price have shown increased interest as trading volume continues to rise, aligning with the growing sentiment across the broader market.This setup reflects broader trends in crypto markets, where structural patterns and breakout confirmations play a key role in determining momentum. As long as price holds above the current support range, market conditions favor continued bullish behavior in the near term.Read Also: This Chart Pattern Could Launch Toncoin (TON) Price to $5 – Here’s WhyFollow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.Read our recent crypto market updates, news, and technical analysis here. We recommend eToro Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more Visit eToro Now Active user community and social features like news feeds, chats for specific coins available for trading. Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. Copy trading: allows users to copy the trades of leading traders, for free. User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate. The post This Chart Pattern Could Send Pendle (PENDLE) Price Exploding 300% – Here’s Why appeared first on CaptainAltcoin.

You may also like

Abraxas Capital Mints $2.89 Billion USDT: Liquidity Boost or Just More Stablecoin Arbitrage?

Abraxas Capital just received $2.89 billion in freshly minted USDT from Tether. Is this a bullish liquidity injection for crypto markets, or is it business as usual for a stablecoin arbitrage giant? We analyze the data and the likely impact on Bitcoin, altcoins, and DeFi.

A VC from the Crypto world said AI is too crazy, and they are very conservative

Amid the Crypto frenzy and with investors who once missed out on Pinduoduo, a new AI fund called Impa Ventures was established, rejecting bubble narratives and adhering to a conservative "problem-first" strategy to seek real business value.

The Evolutionary History of Contract Algorithms: A Decade of Perpetual Contracts, the Curtain Has Yet to Fall

The ten-year evolution of perpetual contracts: from pulling the plug on 312 to the shocking short squeeze of TRB, a deep dive into the pricing machine that averages $200 billion daily, written with countless liquidations and real money, detailing the blood and tears of risk control theory.

Kicked out by PayPal, Musk aims to make a comeback in the cryptocurrency market

Cashtags generated a trading volume of 1 billion dollars just a few days after its launch, marking a strong start for Musk's super app strategy. For the cryptocurrency market, X's layout may be one of the most anticipated sources of retail growth after the meme coin craze subsides.

Solana ETF News: What Is a Solana ETF and Why Is Goldman Sachs Betting $108 Million on SOL?

Solana ETF news today shows Goldman Sachs disclosed a $108M position while total SOL ETF inflows reached $1.45B. Analysts now expect up to $6B in institutional demand as Solana trades 71% below its all-time high.

Bitcoin ETF News Today: $2.1B Inflows Signal Strong Institutional Demand for BTC

Bitcoin ETFs news recorded $2.1B inflows over 8 consecutive days, marking one of the strongest recent accumulation streaks. Here’s what the latest Bitcoin ETF news means for BTC price and whether the $80K breakout level is next.

Popular coins

Latest Crypto News

Read more