Pendle (PENDLE) has experienced a significant price surge, aligning itself with the broader market recovery in the cryptocurrency market. The price has risen by 16.4% intraday and over 27% in the past week, indicating the end of a three-month correction phase. Factors contributing to the trend shift include a surge in open interest and bullish bets from derivatives traders, as well as a divergence between the price and daily active addresses. The price has surpassed the 200-day exponential moving average, indicating a long-term bullish trend shift. The next challenge for buyers is the psychological level of $5, which could lead to further gains of 35 to 40%. However, if the price falls below the recent support of $3.46, it may invalidate the bullish scenario.



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