Pendle Price Nears $6.5 Wall, Breakout Could Trigger Run to $10 Target

TLDR:

• Pendle trades at $5.86, up 6.96% in 24 hours with a $231M daily volume, per CoinGecko data.
• Analysts see a bull flag on the weekly chart, with resistance near $6.0–$6.5 now under retest.
• A weekly close above $6.5 could confirm a breakout and open a path toward $10 per token.
• Demand near $5.0 has held strong, with support repeatedly confirmed in the $1.5–$2.0 zone.

Pendle is tightening against key resistance after a week of steady gains. The token has climbed close to the breakout zone that traders have been tracking for months. 

Analysts now say the chart shows a classic bull flag, often seen before sharp moves. With the price hovering near $6.5, momentum is building fast. The market focus is clear: will Pendle clear resistance and open the door to $10?

Pendle Price Retests Macro Resistance

According to chart analysis shared by Bitcoinsensus on X, Pendle has formed a large bull flag pattern on the weekly timeframe. 

The setup comes after a strong upward move that left price consolidating in a downward channel. This pattern is widely tracked by traders for possible continuation if resistance breaks.

The current resistance sits between $6.0 and $6.5, where price has been rejected before. 

At the time of analysis, Pendle was trading near $5.63, just under that level. That zone now stands as the key breakout barrier. Analysts noted that a weekly close above it could unlock more upside.

Support remains far below, anchored between $1.5 and $2.0. Price tested that range several times in the past, holding each time. A mid-range level near $4 could also act as a fallback if bulls fail to push through resistance.

The current structure shows coiling price action, with demand reappearing near $5.0. Analysts marked that level with renewed buying pressure, helping the token move back to the upper boundary.

Pendle Price Chart Signals $10 Breakout Target

The flagged pattern also points to a measured move target. Analysts project a possible run to $10 if the breakout is confirmed. That target matches the height of the flagpole when extended above the breakout zone.

CoinGecko data shows Pendle trading at $5.86 at press time. The token gained 6.96% in the past 24 hours, with a seven-day climb of 10.17%. Trading volume reached over $231 million, showing strong activity as the price approached resistance.

Traders now watch for a close above the $6.5 level. If momentum carries price higher, the projected target lines up with market expectations around $10. Until then, the range holds with bulls pressing the ceiling.

Failure to clear resistance could bring price back toward $4 support. However, the broader trend remains upward while price stays inside the flagged structure. That keeps the breakout scenario in focus for investors monitoring the chart.

The post Pendle Price Nears $6.5 Wall, Breakout Could Trigger Run to $10 Target appeared first on Blockonomi.