- The trading volume has surged by 80% in the past 24 hours.
- Pendle price gained 28% in 4 days by surpassing the 20-day EMA.
The chart structure displays that the Pendle coin price has gained 10,000% since 2023. Since 2023, the Pendle crypto price has performed extraordinarily and kept rising by recording new all-time highs.
For the past few months, the price has been rising by forming higher highs and higher lows. At the time of writing, the digital asset price has formed a higher low and gained 28% in the last 4 days.
When writing, the Pendle coin price was trading at $5.00 with an intraday gain of 5.53%. The circulating supply is $153,917,215 PENDLE, and the total is 258,446,028 PENDLE. The market capitalization is $765.40 Million, and the 24-hour trading volume is $145.84 Million.
Social Dominance vs. Social Volume Analysis
The engagement on social media has continuously decreased since April, and the Pendle coin price has also reacted negatively. If the awareness and interaction about Pendle crypto increases on social media, buyers may look for an all-time high.
Will Pendle Coin Price Regain $7 Mark This Month?
The Pendle coin price has been bullish and has undergone a correction phase. The bullish trend has discontinued near the $7 hurdle and witnessed a slow and steady fall. For the last few days, bulls seem strong and have lifted the price over the 20-day exponential moving average.
Suppose the PENDLE crypto price is sustained over the 20-day EMA, then buyers may look for a new high. If trading volume and engagement on social media increase, then bullish momentum for the long term can be seen.
On the other hand, if the Pendle price drops below the 20-day EMA, buyers may lose momentum, and the price may remain in the correction phase for some more time.
Based on the technical indicators, the Bollinger Band displayed that the Pendle coin price has surpassed the Basis line and is heading for the Upper line. The digital asset price traded over the key moving average, indicating the buyers’ grip. Generally, technical indicators favored the bullish momentum at the time of writing.
Will YTs be able to continue earning 4X?
Swell L2 pre-launch rswETH is now live on Pendle @Ethereum 🌊
— Pendle (@pendle_fi) May 16, 2024
With this, YTs will be able to continue earning 4x @swellnetworkio Pearls, the usual EigenLayer Points, Staking/Restaking Yield, 𝒑𝒍𝒖𝒔:
🔹 Airdrops from Swell
🔹 Airdrops from projects on Swell L2 pic.twitter.com/SUyjtQe6Qd
Pre-launch deposits for Swell L2 are now open! Swell retaking’s next chapter has begun! Deposits for Swell L2, the Layer 2 restacking solution, are now being accepted. The salient features are as follows:
Accepted Assets: swETH, rswETH (which yields four times as many Pearls), eETH, and other assets are accepted for deposits.
Airdrops: Upon the launch of Swell L2, depositors will receive a SWELL airdrop. It is also anticipated that several airdrops from projects constructed on Swell L2 will occur.
EigenLayer Points: Retain a prorated portion of one million EigenLayer Points upon deposit made by May 8th, 2024.
Conclusion
The Pendle coin price has been in a strong bullish trend and showed slow and steady selling pressure after its all-time high. After the correction phase, the buyers have shown interest and exceeded the 20-day exponential moving average. Most of the technical indicators are demonstrating the buyers’ strength.
Technical Levels
Pendle crypto price could interrupt near the $5 and $7 in upcoming trading sessions. The digital asset price may take support at the $3.85 level; another support level would be $2.40.
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.