Pendle Battles Key $4.40 Support for Next Big Move

Pendle is hanging on near $4.67 as buyers fight to defend the $4.40 support that could unlock a recovery toward $7.

The $4.40 level is the real line in the sand while $4.79 and $5.40 mark the next hurdles traders are watching closely.

If $4.40 holds, Pendle has room to bounce toward $5 and $6 but a breakdown could snap the bullish channel completely.

Pendle’s price action has reached a decisive moment as the token trades at $4.67 following a 1.10% dip in twelve hours. The cryptocurrency has slipped from recent highs near $6.00 and now consolidates within a defined structure. Holding the $4.40 support zone could unlock a path toward $7 in the coming sessions.

Besides, the broader DeFi market turbulence has fueled volatility, pushing Pendle to retest critical zones. According to analyst Ali, the ascending channel guiding Pendle since June remains intact. This structure spans from lower support near $3.50 to upper resistance close to $6.00. Hence, the current channel continues to anchor price discovery even as selling pressure builds.

Technical Patterns Define the Setup

Additionally, Fibonacci retracement levels reveal clear markers for potential direction. The 0.618 level at $4.79 aligns with current action around $4.67. Meanwhile, the 0.786 retracement at $5.40 forms the next key resistance level. Breaking through this level might therefore indicate a resurgence of bullish vigor and pave the way for channel highs at $6.00.

Source: Ali

Consolidation between $4.79 and $4.06, however, emphasizes the lack of short-term resolve. Volume trends confirm this caution, with red candlesticks showing heavier selling near channel highs. Yet, the decline remains orderly, reflecting respect for existing technical ranges rather than a panic-driven collapse.

Critical Supports and Breakout Scenarios

Moreover, horizontal supports at $4.40 and $4.00 remain vital. The $4.40 level, tested multiple times, has consistently attracted strong buyer defense. If this line holds firm, Pendle could rebound toward $5.00, restoring confidence for a potential rally. Conversely, a break below the lower channel boundary would threaten the bullish setup and possibly trigger deeper losses.

Consequently, Pendle’s near-term direction depends on whether buyers defend the $4.40 zone. The zone could be the defining level for either continuation or reversal.

Pendle trades at a crossroads. Holding $4.40 keeps the bullish channel alive and could spark a recovery toward $7 in the near term.

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