Pendle (PENDLE) Launches New Staking Model, Price Rises 9%
- Price Recovery: Pendle's price is showing signs of recovery near the key resistance level of $2.35, currently trading at $2.07, reflecting a 9% increase over the past 24 hours, indicating renewed market confidence.
- Volume Surge: In the last 24 hours, Pendle's spot trading volume surged by 34% to $63 million, suggesting increased market participation and a rebound in trading activity.
- Staking Model Update: Pendle announced the replacement of vePENDLE with sPENDLE, a new liquid staking token that shortens the lock-up period to 14 days, expected to enhance capital efficiency and reduce token emissions by approximately 30%.
- Technical Analysis Outlook: Pendle's price remains stable above $2.00, with a potential breakout above $2.35 that could push prices towards $2.60; however, a drop below $1.95 may indicate increased selling pressure.
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Technical Analysis for PENDLE
Technical Sentiment Analysis for Pendle (PENDLE) As of , Pendle (PENDLE) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 5 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for PENDLE stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, PENDLE is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Pendle (PENDLE) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.276 | 0.653 | 1.007 | 1.384 | 1.738 | 2.115 | 2.469 |
| Fibonacci | 0.653 | 0.932 | 1.105 | 1.384 | 1.663 | 1.836 | 2.115 |
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