PENDLE saw a significant increase in accumulation after hitting a low of $1.81 on March 11. The token has been trading in an upward parallel channel since then, indicating a continued uptrend.

Today, PENDLE has surged by 15%, outperforming other assets in the market. The coin is expected to sustain its upward momentum with increased buying activity.

In the past two months, PENDLE has surged by 135%, trading at $4.16 compared to the low of $1.81. Its movement within an ascending parallel channel signifies steady growth, with buyers driving up the price consistently and controlling pullbacks.

The token's Moving Average Convergence Divergence (MACD) setup supports this bullish trend, with the MACD line above the signal line, indicating a strong buying trend. Additionally, PENDLE has broken above the Leading Spans A and B of its Ichimoku Cloud, indicating a bullish market sentiment.

Currently priced at $4.16, PENDLE faces resistance at $4.48. Breaking through this level could propel the token towards $5.10. However, if profit-taking occurs, the price may drop to $3.85, possibly extending further down to $3.07 if the bulls fail to support the token at this level.