Pendle

<p><strong>Date:</strong> Sun, Sept 22, 2024, 05:43 AM GMT</p><p>The cryptocurrency market is seeing a bullish trend after a recent Federal Reserve rate cut, which sparked optimism across various coins. Among the top gainers is Pendle (PENDLE), which has been making waves with a remarkable surge. Over the last 24 hours, PENDLE has risen by 24%, and in the past week, it&#39;s up nearly 30%.</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/f0c65f8793814725a2b8fd2429d1a1ac.png" />Source: Coinmarketcap</p><h3 id="bullish-despite-selloff">Bullish Despite Selloff</h3><p>Interestingly, the <a href="https://coinsprobe.com/arthur-hayes-offloads-1-27-million-pendle-will-it-affect-the-tokens-price/" rel="noopener noreferrer nofollow">recent selloff </a>by Arthur Hayes, co-founder of BitMEX and CIO of Maelstromfund, where he offloaded 1.27 million $PENDLE (worth approximately $4.4 million), didn’t impact the token’s price as much as some might have expected. Despite this large sale, PENDLE has shown remarkable strength, continuing its upward trend.</p><h3 id="breakout-ignites-the-rally">Breakout Ignites the Rally</h3><p>The main reason behind today’s surge is a technical breakout. PENDLE successfully broke above the downtrend line at the $3.33 price level, which catapulted its price to the current level of $4.29.</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/b35bbc1fefd741b794e9f333e1a529d7.png" /></p><p>With this breakout, the momentum looks solid, and PENDLE could now be eyeing its next resistance level at $4.64, which would mean a further 15% upside from where it stands.</p><h3 id="is-the-rally-just-beginning">Is the Rally Just Beginning?</h3><p>Today’s breakout is a strong signal that PENDLE could be starting an extended rally, similar to recent bullish moves seen in other tokens like <a href="https://coinsprobe.com/top-layer1-tokens-sui-sei-and-ftm-gains-momentum-key-levels-to-watch/" rel="noopener noreferrer nofollow">SEI and Fantom</a>. Investors are now watching closely to see if PENDLE can maintain this upward momentum and continue its strong performance.</p><p><strong>Disclaimer:</strong> This article is for informational purposes only and does not constitute financial advice. Always do your own research before making any investment decisions.</p><p><strong>Read More:</strong><a href="https://coinsprobe.com/bittensor-tao-leads-in-ai-tokens-with-bullish-run-more-rally-ahead/" rel="noopener noreferrer nofollow"><strong> </strong>Bittensor (TAO) Leads In AI Tokens With Bullish Run; More Rally Ahead?</a></p>

PENDLE's Breakout Sparks Rally: Is the Bullish Trend On The Horizon?

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