Pendle Price Prediction: $3 Support at Risk, Network TVL Drops 47%
Key Points:
- Pendle price suffered a 45% drop and a 47.3% drop in network total value locked (TVL), reflecting weakening investor confidence. The current key support is at $3.82, which may have an important impact on future price movements.
- Pendle's daily trading volume reached $120.2 million, an increase of 48%. Despite this, the overall downward pressure on the market caused Pendle price to fall to $3.82, close to the 23.6% Fibonacci retracement level.
- Since June 7, the TVL of the Pendle network has dropped from $6.72 billion to about $3.54 billion, a drop of 47.3%. This may indicate a decline in investor confidence or a reallocation of funds.
- Pendle price is currently testing the $3.82 support level. If it fails to hold, it may lead to a further drop in price to $3.2, or a rebound and then enter a sideways trend.
- Technical indicators show that if it rebounds from the $3.82 support level, buyers may push the price to re-break through the 200-day exponential moving average and restore the market's confidence in the rise.
These are the latest market analysis and price predictions for Pendle.
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