Pendle

Based

Resistance

Gains

<p>As November kicks off, the <strong>crypto market</strong> is showing signs of a strong rebound. Altcoins are reviving with increased buying pressure, and <strong>Pendle (PENDLE)</strong> is among those making waves. Over the past 30 days, PENDLE has surged by 18%, hitting the $4.5 mark. Investors speculate that Pendle’s market cap could reach $1 billion, pushing its price toward $10. Could this rally mark the start of a bull run for Pendle? Let’s dive into the details.</p> 
<p><a href="https://www.qubetics.com/?utm_source=TBJ&amp;utm_medium=postBANNER" target="_blank" rel="noopener nofollow"><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-51679 aligncenter" src="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/10/Qubetics-is-728x90-1-3.jpg" alt="Hidden Potential: This Altcoin Surges, More Gains on the Horizon? = The Bit Journal" width="728" height="90" title="Hidden Potential: This Altcoin Surges, More Gains on the Horizon? 40"></a></p> 
<h2 id="pendle-breaks-resistance">Pendle Breaks Resistance</h2> 
<p>After four years, Pendle has finally broken through a long-standing resistance trend, gaining upward momentum with a V-shaped recovery. The token rebounded from $1.82 to $4.52, a gain of 148%. This sharp increase pushed the price above the 50-day and 200-day EMAs, creating a local support trendline in the process.</p> 
<h2 id="technical-indicators-signal-potential-upside">Technical Indicators Signal Potential Upside</h2> 
<p>Currently trading at $4.52, Pendle has shown resilience, recovering by 2.84% following a 3.96% dip. This recovery signals a potential new bull cycle. The price has formed a “tweezer bottom” pattern within a rising wedge formation, suggesting the possibility of further gains.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="alignnone size-full wp-image-66088" src="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/11/image-26-1024x481-1.png" alt="Hidden Potential: This Altcoin Surges, More Gains on the Horizon? = The Bit Journal" width="1024" height="481" title="Hidden Potential: This Altcoin Surges, More Gains on the Horizon? 41"></p> 
<p>The RSI shows no major divergence, yet the <strong>golden cross</strong> between the 50-day and 200-day EMAs is a strong bullish indicator. The 50-day EMA serves as dynamic support, sustaining Pendle’s upward momentum.</p> 
<h2 id="could-pendle-reach-10">Could Pendle Reach $10?</h2> 
<p>Pendle is set to test the resistance above its neckline. Based on Fibonacci levels, a breakout from the rising wedge could propel the price to $6.98, aligning with the 100% Fibonacci level. If the market recovery continues, this trend may extend toward the $9.94 mark, the 1.618 Fibonacci level.</p> 
<p>In a more optimistic scenario, the <a href="https://thebitjournal.com/attention-7-altcoins-set-to-see-major-developments-this-week/" target="_blank" rel="noopener">altcoin</a> could hit the critical $10 mark, although this largely depends on overall market strength. Despite a recent drop in the total crypto market cap of over $144 billion, Pendle’s price action remains promising. At present, the total crypto market cap sits at $2.26 trillion, reflecting continued volatility.</p> 
<p>For those seeking hidden gems, Pendle’s recent breakout makes it a compelling choice. Stay tuned to <strong>The Bit Journal</strong> for further updates on this dynamic altcoin and the broader crypto market.</p> 
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Hidden Potential: This Altcoin Surges, More Gains on the Horizon?

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The Bit Journal

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