PENDLE rose 10% on Monday, marking the first bullish daily chart in six days.

GateNewsBot

2025-06-17 03:47:16

Gate News bot message, FXStreet analyst Vishal Dixit stated that the price of Pendle (PENDLE) rose 10% on Monday, marking the first bullish daily chart in six days. Starting from the support level of $3.598, the price of PENDLE reached the key resistance level of $4.132 indicated on the 4-hour chart.

Due to oversupply above, PENDLE’s stock price has experienced a brief respite, with two consecutive bearish candles, each with long tails, indicating strong demand absorbing the supply.

The closing price above $4.132 may push PENDLE up to the level of $4.346, with the last test of this level as a support level occurring on June 10.

In the 4-hour chart, the RSI indicator is approaching the overbought boundary, and buying pressure is increasing. However, the risk of a pullback is rising in an overbought environment, and investors must remain cautious.

The MACD indicator has entered the positive territory, and its signal line is following an upward trend, indicating that the bullish momentum is strengthening.

If the PENDLE price breaks below $3880, it may retest the support level of $3598.

(Source: FXStreet)

PENDLE2.94%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.