Date: Fri, July 18, 2025 | 06:34 AM GMT
The cryptocurrency market has reached a historic milestone, surpassing $4 trillion in total market capitalization for the first time ever. Ethereum (ETH) continues to lead the charge, posting 20% weekly gains and trading near $3,650. This bullish wave is spilling over into major altcoins, including Pendle (PENDLE).
PENDLE has risen 4% over the day, extending its 30-day rally to 16%. But what’s generating the most buzz is its developing harmonic structure on the daily chart — a setup suggesting that the token could have more room to run.
Harmonic Pattern Hints at Bullish Continuation
On the daily timeframe, PENDLE is currently tracing a Bearish ABCD harmonic pattern. Despite its name, this pattern often signals bullish continuation during the CD leg before a potential reversal at the final target.
The pattern began from point A near $2.37 in April, rallying to point B around $4.72. It then retraced to point C near $3.10 in late June, before beginning a fresh upward move. PENDLE now trades around $4.37, steadily progressing along the CD leg.
If the pattern completes as projected, the 1.452 Fibonacci extension of the BC leg suggests a potential move toward $5.45 — a level aligning with the AB leg’s length and marking the Potential Reversal Zone (PRZ), where traders typically expect resistance or profit-taking.
What’s Next for PENDLE?
If momentum holds, PENDLE could gain another 25% before testing the $5.45 zone. Traders should watch for signs of profit-taking at this level, though the overall structure remains supportive of near-term upside as long as the broader market trend stays bullish.
With crypto sentiment firmly in favor of buyers and PENDLE forming one of the clearest harmonic setups among mid-cap tokens, the path higher still looks open — at least until the PRZ is reached.
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