PENDLE Expert Points to Potential Rebound Levels Following 25% Price Dip, But There’s a Catch
Crypto analyst Stoic tweeted a keen observation on Pendle (PENDLE), highlighting its latest market behavior on a 4-hour chart. The analyst’s latest post is coming after the token has dipped by more than 25% in the last 1 week.
Stoic’s tweet states: “$PENDLE 4H – support provided – now to create some structure and start closing above this zone. If there’s a break lower – sweep yvwap + previous high for a textbook retest.” This analysis sets the stage for a deeper dive into the current trends and possible future movements of Pendle’s market price.
What you'll learn 👉
Understanding Current Price Movements and Key Indicators
Following Stoic’s observations, his chart analysis shows a mix of upward and downward price movements, with recent activity marking a significant downturn to a low at $4.198. The volume profile alongside the chart reveals substantial trading activity between $5 and $6, suggesting this range as a critical area for future support or resistance.
The drop to new lows reflects a bearish sentiment that could influence future price trends. Resistance levels are evident around $7.538, matching the recent high, while the support sits at $4.198, aligning with the current low. Additionally, should this support level falter, the price may seek the yearly VWAP, indicating a stronger support could be tested.
Milei Moneda is a new meme coin inspired by the political and economic views of Javier Milei, an Argentine president known for his libertarian and pro-Bitcoin stance. You have an opportunity with the ongoing low presale price to get in early!
Sponsored
Show more +Projection of Future Price Movements
Furthermore, looking ahead, if PENDLE maintains support at $4.198, it could potentially rebound towards the heavily traded $5 to $6 area. However, overcoming the selling pressure in this zone could prove challenging. Conversely, a break below this support could lead to a decline towards the yearly VWAP, which might provide a cushion against further drops.
Moreover, according to the latest data from CoinMarketCap, the price of Pendle is currently $4.37, marking a 4.76% increase over the past 24 hours.
Hunting for a small cap coin that could explode 10x? We’ve unveiled a few last week alone.
Get all our future calls by joining our FREE Telegram community.
Check $RECQ Meme Coin
ICO stage, offering tokens at a discounted price
Facilitates a smooth and efficient economy within the arcade, supporting both arcade and in-game transactions.
Grants access to a diverse range of gaming experiences in the Rebel Satoshi Arcade,
Contributes to a decentralized, community-driven RebelSatoshi platform that integrates gaming with elements of revolution, freedom, and unity, appealing to users who value such principles.
