- The Pendle worth has surged by 70% in the previous 2 weeks, indicating the bulls’ power.
- A demise crossover has been generated between the RSI and the RSI-based transferring common.
On a every day time-frame, the Pendle crypto worth has been in a robust bullish development, rising by forming greater highs and lows. Since mid-March, the Pendle worth has reacted negatively and has failed to maintain the $7 hurdle.
After bearish momentum, the Pendle crypto worth took assist on the important thing transferring averages and surged by 67% in 2 weeks. The PENDLE crypto worth has prolonged to the final swing excessive and has shaped bearish candlesticks.
At press time, the PENDLE crypto worth traded at $6.44, which has misplaced round 1.74% in the previous 24 hours. The market capitalization is $990.47 million, and the 24-hour buying and selling quantity is $139.58 million.
Impact of Social Media on Pendle Value
The info means that engagement on social media websites like X, Instagram, and Telegram has decreased. Nonetheless, the PENDLE price has remained bullish. Presently, social dominance has turn into secure. If social media interplay will increase, the worth could set off a breakout.
Pendle Value Prediction: Will It Method the $10 Mark Subsequent Month?
PENDLE crypto worth has prolonged to the resistance stage of $7 and is reacting negatively. Promoting strain could be anticipated if the worth fails to maintain the resistance line and slips beneath the $20-day EMA.
If it varieties a double-top sample on a every day time-frame, a bearish development for the long run could be seen. Alternatively, shopping for strain could be noticed if the digital asset worth manages to surpass the $7 mark.
If the buying and selling quantity will increase on the time of the breakout, the bullish momentum can final for an extended time.
DOT/USD Chart by TradingView
Turning to the technical indicators, the MACD has generated a golden crossover and green histogram. The RSI is at 59 and has rapidly extended to the overbought zone.
Conclusion
Based on the Pendle crypto price analysis, it is evident that the market is currently experiencing a strong bullish trend. The recent surge of 70% in the past 2 weeks indicates significant bullish momentum.
However, it is essential to monitor the resistance level of $7 closely. If the price fails to sustain this level and slips below the $20-day EMA, selling pressure may increase.
Technical Levels
Pendle price may face resistance from the $7.00 & $10.00 levels if it gains bullish momentum. The price may take support on the $5.70 and $3.80 levels.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
