Pendle Price Signals a Major Breakout From Wedge Pattern ๐
By press time, the Pendle price recorded an 11% surge to $4.06, providing a decisive breakout from the rising wedge pattern. In the past seven weeks, this chart set up a confined recovery between two converging trendlines, but the recent breakout signals the buyerโs readiness for an accelerated rally.
In addition, the recent jump pushed the altcoin above 100-and-200-day Exponential Moving Averages (EMAs), signaling a positive shift in market sentiment. If the bullish momentum holds, the buyers could drive a 17.5% surge to $4.78 resistance, followed by an extended value of $2.68.
On the contrary, if the potential retest to the breached trendline re-enters the wedge pattern, the prevailing correction sentiment could resume.
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