Pendle

bullish

Rally

would

<ul class="wp-block-list cnl-post-highlights-list">
 <li>Pendle announced breaking resistance levels through 74% rally towards $5.50.</li>  
 <li>&nbsp;It indicates recovery of upward momentum from consolidation.</li>  
 <li>&nbsp;Maintaining key support would be critical for Pendle's continued rise.</li> 
</ul>  
<p>Pendle (PENDLE) has recently broken resistance levels to indicate a possible midterm bullish breakout. The 12-hour chart also shows the cryptocurrency breaking the downtrend line that had capped prices for many months. From this successful breakout, Pendle will likely gain significantly, with a 74% projected gains in the next few weeks. The token shows significant accumulation patterns and looks to have gained momentum and could be headed further upward toward more elevated price levels.&nbsp;&nbsp;</p>  
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  https://twitter.com/WorldOfCharts1/status/1903332437834277208
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<p>The chart indicates that Pendle has oscillated below the downtrend line for quite a number of months and has very strong resistance at $3.20. Once this level was broken, prices broke through significant levels, and the asset is now testing upper resistances. The break of the downtrend line was a very critical <a href="https://cryptonewsland.com/microstrategys-stock-eyes-800-technical-indicators-point-to-potential-breakout/" target="_blank" rel="noopener noreferrer nofollow">technical </a>level, as it implied a movement from a consolidated phase to a very strong upward shift. The upward trend would put Pendle on further price levels around $3.60 and $4.50, as indicated in the forecast to the chart.</p>  
<h2 class="wp-block-heading" id="strong-potential-74-rally-following-successful-breakout-strong"><strong>Potential 74% rally following successful breakout</strong></h2>  
<p>The breakout presently, seems to be a signal that Pendle might rally up to 74%, from the current level of about $3.20 to almost $5.50. That projection is on the basis of the measured move from the breakout location showing that Pendle has substantial growth potential. A rally of this mass would translate into a higher return for investors coming into the current levels. But Pendle's forward movement must not fall under $3.00, or else it would induce bearish conditions again.&nbsp;</p>  
<p>Having broken numerous resistance points, the major question remains whether Pendle will sustain its bullish trend moving forward. Prices face resistance somewhere in the range of $3.60 to about $4.00, and confirmation of these breaks would be critical for subsequent stages in the rally. Should Pendle manage to maintain prices above these levels, it is set toward the extension $5.50, with potential on the upside. These are price levels about which investors need to be watching for further<a href="https://cryptonewsland.com/volume-displays-breakout/" target="_blank" rel="noopener noreferrer nofollow"> upward momentum</a> to confirm the bullish trajectory that Pendle is likely taking.</p>

Here’s Why Pendle Could See a 74% Rally After Breaking Resistance

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