PENDLE surged 17.71% to $1.47 as trading volume climbed 108.05% to $76.11M, reflecting a sharp rise in participation and renewed demand across markets.
This rise in activity aligned with the price increase, showing that buyers had entered with conviction rather than isolated spikes in liquidity.
As participation increased, the rally gained structural backing instead of relying on thin order books.
However, rapid demand expansion often introduces short-term instability, especially near key resistance zones.
Price approached a critical level where continuation or rejection would likely shape the next move.
PENDLE short squeeze drives the rally higher
At the time of writing, the liquidation figures showed $110.99K in short positions wiped out compared to $38.73K in longs, highlighting a clear imbalance that had favored bullish continuation.
This disparity indicated that bearish traders had been forced out as price advanced, adding buying pressure through forced closures.
As shorts exited, their positions effectively fueled the rally instead of limiting it. However, liquidation-driven moves tend to lose strength once forced exits decline.
If this pressure reduces, price could shift toward consolidation rather than extend aggressively. Even so, the dominance of short liquidations reflected a clear shift in control toward buyers during this phase.
PENDLE: Resistance caps price
PENDLE formed consistent higher lows above $0.983 while trading above the previously broken descending channel, reflecting a shift away from prolonged bearish structure.
Price no longer respected the channel boundaries, which indicated that prior downside control had weakened as buyers regained footing.
However, price continued to compress beneath the $1.681 resistance, showing that supply remained active at higher levels.
Buyers stepped in at progressively higher zones, limiting pullbacks and tightening the range. DMI reinforced this structure, with ADX rising to 27.66 while +DI at 24.44 held dominance over -DI at 9.73, confirming strengthening directional pressure.
If buyers sustain this structure, a move above $1.681 could extend toward $2.350. However, failure to maintain higher lows would weaken the structure and expose a retest toward $0.983.
Exchange inflows introduce localized selling pressure
Spot Netflows printed a $182.66K inflow, signaling that a portion of tokens had moved onto exchanges during the current session.
This shift indicated that some holders had positioned themselves to sell into strength as price approached resistance. Exchange inflows typically introduce supply, which can slow upward movement even during strong rallies.
However, the relatively modest size of this inflow suggested that selling pressure had remained limited. If inflows increase, they could challenge the current structure and restrict further upside.
On the other hand, stable inflow levels would allow demand to absorb supply more effectively, supporting continued price compression beneath resistance.
Final Summary
- PENDLE builds higher lows above $0.983 while resistance at $1.681 limits expansion.
- Short liquidations and rising volume support upside, but inflows may slow continuation.