Pendle (PENDLE) Price Analysis
Pendle (PENDLE) is struggling to go above $5.50 and briefly slipped below the 20-day SMA as selling pressure registered a substantial increase. PENDLE registered a considerable decline last week, falling to a low of $4.98. However, it recovered and reached $5.42 by Saturday, only to fall back in the red on Sunday, dropping almost 5% and settling at $5.16. PENDLE recovered on Monday thanks to the 20-day SMA acting as a dynamic support level, rising by 5.20% and settling at $5.43. However, bearish sentiment returned on Tuesday as PENDLE plummeted almost 7% to go below the 20-day SMA and settle at $5.07.
Bearish sentiment persisted on Wednesday as PENDLE fell below $4, dropping almost 4% and settling at $4.88. However, the price recovered on Thursday, rising nearly 7% to reclaim $5 and settle at $5.22. However, the current session finds PENDLE back in the red, with the price down 1.65% as sellers look to drive it back below $5. If selling pressure persists, PENDLE could slip below $5 and drop towards $4.70, where the 50-day SMA could act as a dynamic level of support.
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{future}(PENDLEUSDT)