• Pendle’s price has increased by over 31% in the past week, reaching $5.28.
• Trading volume surged nearly 20%, indicating growing investor interest.
• Open interest declined slightly, suggesting reduced speculative activity.

Pendle has been on a positive path, gaining significant value recently within an overall bullish market. Over the past 24 hours, Pendle’s price rose nearly 4%, and over the last week, it soared by an impressive 31.56%.

At the time of writing, the token is trading at $5.28. Its trading volume for the day has reached $246.42 million, marking a 34% increase from the previous day. The token’s total market capitalization now stands at around $883.4 million.

Also Read: Pendle Price Jumps 38%, Targets $7 Amid Strong Market Sentiment

Pendle’s Technical Recovery Supports Positive Outlook

Pendle’s recent price action reveals that the token has rebounded from a key support zone between $4.90 and $5.60. This price range has previously served as a strong accumulation area.

After recovering from this support level, the token has registered a series of higher lows and higher highs, a classic sign of sustained buying interest.

A critical resistance point around $5.80 is currently testing the token’s upward momentum. Should Pendle break through and maintain levels above this mark, it may pave the way for a continued rise toward targets near $6.35 and $6.65. Maintaining prices above $5.60 remains essential to preserving the positive momentum.

Market Activity Shows Cautious but Growing Engagement

While price and trading volume have increased, with trading volume rising by +19.82% to $383.64 million, the open interest in Pendle’s derivative markets has fallen slightly by -2.45%, settling around $166.10 million.

The low open interest-weighted figure of 0.0099% further indicates limited speculative leverage. This combination suggests that much of the recent price action may be driven by direct investment rather than leveraged trading.

Rising volume, steady price increases, and a slight decrease in open interest indicate cautious investor activity favoring spot trading over futures. The token is entering a period of strong growth, with investors closely monitoring the current momentum.

Also Read: Why PENDLE’s Double-Bottom Breakout Signals a Potential 100% Gain