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<p>Crypto analyst Stoic <a href="https://x.com/Stoiiic/status/1785846938849702147" target="_blank" rel="noopener noreferrer nofollow">tweeted</a> a keen observation on <a href="https://captainaltcoin.com/heres-why-pendle-price-is-plunging/" target="_blank" rel="noopener noreferrer nofollow">Pendle</a> (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.</p>
<p>Stoic’s tweet states: “<em>$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.</em>” This analysis sets the stage for a deeper dive into the current trends and possible future movements of Pendle’s market price.</p>
<h2 class="wp-block-heading" id="strong-understanding-current-price-movements-and-key-indicators-strong"><strong>Understanding Current Price Movements and Key Indicators</strong></h2>
<p>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.</p>
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/uq6K0bwKwlynTaDgeth7p5KC8zlLDQpm2DUfiEs4nSYsdV1uh6gWz4dZc0fGVLpjQ9rJbrptk1CR0nCB_XPIhhbjn8EUZz20uIbFGvaDGjI0YpCK0uaP09v-uK9tLmQCry-cS-0lFlDCReAJPtE6pQI" alt="">
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<p>The drop to new lows reflects a bearish sentiment that could influence future <a href="https://captainaltcoin.com/?s=price+trends&amp;post_type=post" target="_blank" rel="noopener noreferrer nofollow">price trends</a>. 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.</p>
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<h2 class="wp-block-heading" id="strong-projection-of-future-price-movements-strong"><strong>Projection of Future Price Movements</strong></h2>
<p>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.</p>
<p>Moreover, according to the latest data from CoinMarketCap, the price of Pendle is currently <a href="https://coinmarketcap.com/currencies/pendle/" target="_blank" rel="noopener noreferrer nofollow">$4.37</a>, marking a 4.76% increase over the past 24 hours.</p>
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<p>The post <a href="https://captainaltcoin.com/pendle-expert-points-to-potential-rebound-levels-following-25-price-dip-but-theres-a-catch/" rel="noopener noreferrer nofollow">PENDLE Expert Points to Potential Rebound Levels Following 25% Price Dip, But There’s a Catch</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

PENDLE Expert Points to Potential Rebound Levels Following 25% Price Dip, But There’s a Catch

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Ďalšie články zverejnené 2. 5. 2024

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