Date: Fri, April 04, 2025 | 06:56 PM GMT
In the cryptocurrency market today, top assets Bitcoin (BTC) and Ethereum (ETH) remain in the green despite ongoing tariff wars affecting global markets.
Meanwhile, Pendle (PENDLE) and Pepe (PEPE) are are gaining traction with impressive gains. PENDLE has already surged 19% this week following a key breakout and retest, while PEPE’s technical setup suggests it may be on the verge of a similar move.
Pendle (PENDLE)
One of the primary factors driving PENDLE’s recent surge is its technical breakout from a falling wedge pattern. This pattern had kept the token in a prolonged downtrend, but on March 24, PENDLE decisively broke above the wedge’s upper boundary, reaching a local high of $2.99.
However, last week’s market-wide correction led to a retest of the breakout trendline at $2.45. The support held firm, and PENDLE has since rebounded, currently trading around the $3.16 resistance zone. The 50-day moving average (MA) is now acting as a support level, reinforcing the bullish sentiment.
If PENDLE can break above its next major resistance at the 100-day MA, it could trigger a rally toward the $4.03 level, marking a potential 26% upside from current levels. The MACD indicator has also turned positive, signaling strengthening bullish momentum.
Pepe (PEPE)
Following a similar trajectory to PENDLE, PEPE has recently broken out from its descending wedge pattern. On the daily chart, the token successfully reclaimed the 50-day MA at $0.0000079 and briefly reached a short-term high of $0.00000918 before facing resistance and pulling back.
Now, PEPE is retesting its breakout trendline and is trading around $0.0000071. If buyers step in at this level, it could confirm a bullish rebound and propel PEPE toward its next key resistance zone at $0.000010. A successful breakout above this level could open the doors for a rally toward the 200-day MA and the $0.00001475 price zone, representing a potential 46% gain from current levels.
Similar to PENDLE, PEPE’s MACD has crossed into bullish territory, adding further confidence to a potential upward move.
Final Thoughts
Both PENDLE and PEPE are showing strong bullish setups following their respective breakouts. While PENDLE has already gained significant momentum, PEPE appears to be in the early stages of a potential rally. The coming days will be crucial in determining whether PEPE can follow PENDLE’s lead and secure a sustained breakout. Traders should watch for volume increases and confirmation signals before entering positions.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.