$PENDLE Rejected at $6 — Is Another Run Toward $7.20 Still Possible?

Pendle rejected at $6 resistance, echoing past failures near $7.20 that triggered sell-offs.

Strong support sits at $5 and $4.70; breaking these could test $3.70 again.

Macro structure remains bullish since March lows, with no lower low confirmed.

Pendle’s latest rally has run into strong resistance. After months of recovery from March lows, the token now faces heavy selling near $6, with price action hinting at a possible cooling phase.

Triple Rejections Define Market Memory

Pendle’s chart carries a clear pattern of resistance. Data from Ali charts shows three sharp rejections near $7.20 in April, May, and December 2024. Each attempt to break higher ended with steep declines, reinforcing $7.20–$7.50 as ceiling traders watched closely.

The December rejection proved brutal. Price collapsed to $1.80 by March 2025, marking the cycle bottom. That area became strong support, halting further downside and flipping sentiment.That marked a turning point. Price started climbing step by step, building higher highs and higher lows — the first signs of a real trend reversal.

Breakout and Fresh Challenges

Momentum picked up in June 2025. After several failed attempts, Pendle finally cleared $3.70 resistance with convincing bullish candles. The breakout reignited buyer confidence and set the stage for a sharp rally. By early August, the token climbed above $5.90, retesting a level that had once been reliable support in late 2024.

But history repeated itself. Sellers rejected the price once again, this time near $6. The long wicks on recent candles reflect strong supply in that zone. As of now, Pendle trades near $5.49, holding above immediate support but struggling to reclaim lost ground.

Key Levels to Watch

Support zones are now in focus. The $5.00 mark has acted as a buffer since early August, while $4.70—once a breakout level—sits just below. If either gives way, the next critical floor is $3.70. On the upside, bulls need to conquer $6 to target the $7.20 barrier once more.

Despite near-term weakness, the macro structure remains intact. Since March, no lower low has formed, meaning the broader uptrend still stands. Traders respect the wide $1.80–$7.50 range, with strong reactions at each boundary.

Pendle is at a crossroads. The token sits between major resistance and mid-range support, consolidating after a powerful rally. A break above $6 could reignite momentum toward $7.20. A slide under $4.70, however, risks deeper retracement. Until then, traders eye the $5–$6 range for the next decisive move.

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