Pendle (PENDLE) Price Analysis: Can Bulls Push a Rally Toward $3.5?

Pendle is moving in an upward direction and is attempting to regain strength following a sharp pullback. Technical indicators are also supporting the bullish outlook if the market conditions remain favorable.

At the time of writing, the token is trading at $2.08, supported by a 24-hour trading volume of $46.39 million and a market capitalization of $347.16 million. Its price has surged by 6.82% over the last 24 hours and 17.67% over the last week.

Source: CoinMarketCap

Also Read: Pendle (PENDLE) Price Analysis: Will $4.40 Support Spark a Rally Toward $7?

PENDLE Could Surge to $3.5 If Support Holds Strong

The crypto analyst, Crypto Pulse, highlighted that Pendle has dropped sharply and is now trading at a critical long-term horizontal support near the $2.0 level. This zone has acted as a strong demand area multiple times in the past, making it an important area to monitor. As price stabilizes here, downside momentum may begin to slow if buyers continue stepping in.

Source: X

If this support holds, PENDLE could attempt a recovery move toward the $3.0–$3.5 resistance zone, where prior consolidation and selling pressure previously emerged. A clean bounce would improve short-term sentiment, but the setup remains fragile. A decisive weekly close below $2.0 would invalidate the structure and expose the market to further downside risk.

Technical Indicators Suggest a Strong Breakout Ahead

The token has posted a strong bullish daily candle, gaining over 10%, which signals renewed short-term buying interest after a prolonged consolidation phase. Price is attempting to stabilize above the recent base, suggesting sellers may be losing control. However, the broader structure still reflects a cautious recovery rather than a confirmed trend reversal.

Source: TradingView

From an indicator perspective, MACD is improving, with histogram bars flipping positive, hinting at building bullish momentum, though the signal and MACD lines have not yet delivered a decisive bullish crossover. RSI has rebounded to the low 40s, near oversold levels, showing early strength but remaining below the neutral 50 mark. This suggests upside potential exists, but follow-through volume and continuation above resistance will be key for confirmation.

Also Read: PENDLE Breakout Alert: Can It Soar to $10.88 in 2025?