- Pendle has broken back into a more bullish structure, similar to trends seen in assets like Solana and meme coins.
- Trading near the 200EMA, acting as a magnet for price with no clean breakout or breakdown.
- RSI is sitting at 45, a neutral reading that supports the idea of sideways movement.
- Next resistance is $3.36, and support sits at $3.67 — price is trading between them.
- When pulling a Fibonacci from local lows to highs, $3.00 is a deeper downside level of interest, but it’s unlikely to be tested immediately.
- No dominant trend or aggressive volume shift currently — structure suggests price may chop sideways in the short
Thesis:
Pendle has rebounded from local lows and is trying to carve out a base. While the larger structure is improving, there is no strong directional conviction at the moment. RSI and EMAs suggest a neutral stance is appropriate — especially as price continues to ping-pong between support and resistance. Until either side breaks with momentum, we expect continued sideways consolidation. Key levels remain clearly defined, and patience is warranted while the structure matures
Cryptonary’s Take
Pendle is stuck in a holding pattern. It’s showing early signs of recovery, but without momentum or a clean break of structure, the most probable outcome is continued consolidation. We remain neutral for now, watching for stronger signals before committing to a directional view.
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