PENDLE Reclaims Strength After Channel Break, Eyes Major Move to $2.35

• PENDLE surged on high volume, driven by strong buyer participation and short liquidations.

• PENDLE’s price broke bearish channel but faces key resistance near $1.681 before continuation.

• Bullish structure holds, with potential upside target set around $2.35 if momentum continues.

Pendle — PENDLE, has returned to the spotlight after a sharp rally pushed price above a long-standing bearish channel. Strong volume growth and rising market participation suggest this move carries more than short-term excitement. Buyers have stepped in aggressively, forcing bearish traders out while strengthening bullish momentum. With price now pressing against critical resistance, traders are closely watching whether PENDLE can maintain enough pressure to unlock the next major breakout phase.

$PENDLE

📎Broke out of the descending channel on volume. 1.44 is acting as key local resistance, and a breakout above it could accelerate the asset’s move toward the next targets.
📎Also, do not forget about possible wicks beyond the level. If the move happens without volume,… pic.twitter.com/7gokICJhmx

— Drake (@drakeramoreFX) May 1, 2026

Rising Volume and Short Liquidations Fuel Bullish Momentum

PENDLE climbed 17.71% to reach $1.47, while trading volume surged more than 108% to $76.11 million. This sharp rise in activity showed genuine buyer interest rather than weak speculative movement. Increased participation gave the rally stronger structural support, reducing reliance on low-liquidity spikes. Short liquidations played a major role in accelerating this move. More than $110,000 in short positions were wiped out, compared to roughly $39,000 in long liquidations. This imbalance confirmed that bearish traders faced heavy pressure as price pushed upward.

Forced short closures added additional buying momentum, helping extend gains. This type of squeeze often creates rapid price acceleration. However, such rallies can lose speed once liquidation pressure fades. Without fresh buying demand, upward momentum may slow into consolidation. Still, current market conditions strongly favor buyers as bullish control remains dominant. Technical structure also supports this recovery. PENDLE has formed consistent higher lows above $0.983, showing buyers continue defending stronger positions.

The price of PENDLE also broke above a descending channel that had previously controlled bearish movement. This breakout signals weakening seller dominance and a potential larger trend reversal.DMI indicators further reinforce growing strength. ADX climbed to 27.66, while positive directional pressure remained significantly stronger than bearish signals. This setup suggests trend strength continues building as buyers maintain control.

Key Resistance at $1.681 Could Decide the Next Breakout

Despite growing bullish momentum, PENDLE still faces major resistance near $1.681. Price continues compressing below this level, showing active seller presence. This resistance now serves as the most important barrier for further upside. If buyers successfully break above $1.681, price could target $2.35 as the next major objective. Stronger demand and sustained higher lows would support this move. However, failure to clear resistance may trigger a pullback toward $0.983, where support remains critical.

Exchange netflows also deserve attention. Recent inflows of $182,660 suggest some holders may prepare to sell into current strength. While selling pressure remains relatively limited, larger inflows could challenge bullish momentum. For now, demand appears capable of absorbing available supply. PENDLE’s structure has improved significantly. Buyers control momentum, volume remains strong, and technical indicators favor continuation. A decisive move above resistance could open the path toward $2.35.