Pendle Price Prediction: $3 Support at Risk, Network TVL Drops 47%

Key Points

- Pendle price faces a 45% drop and a 47.3% drop in TVL, reflecting reduced investor confidence. The key support level is at $3.82, which may determine future price movements.

- Pendle's intraday trading volume is $120.2 million, showing a 48% increase. The overall downward pressure on the market has caused Pendle price to fall to $3.82 and the 23.6% Fibonacci retracement level.

- The TVL of the Pendle network has dropped from $6.72 billion on June 7 to about $3.54 billion, a 47.3% decrease, which may indicate weakening investor confidence or capital reallocation.

- Pendle price is testing the $3.82 support level, which may cause the price to rebound into a sideways trend, or fall below this support level and further fall to $3.2.

- Technical indicators show that if it rebounds from the $3.82 support level, buyers may regain the 200-day exponential moving average and restore the bullish sentiment in the market

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