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The Pendle token has seen a significant price increase today. This can be observed as the price of the token increased by 9.94%. All of this happened in a single session, suggesting that upside forces are quite strong in this market.
PENDLE Statistics
Current Price: $4.419
Market Capitalization: $742.85M
Circulating Supply: 166.24M
Total Supply: 281.52M
CoinMarketCap Rank: 94
Key Price Levels
Resistance: $4.500, $5.000, $5.500
Support: $4.000, $3.500, $3.000
PENDLE/USDT Pumps Towards $5.00
While the Pendle token rebounded in the previous session, the ongoing session has continued to push strongly upward. The latest price candle on the daily chart has just breached the middle limit of the Bollinger Bands (BB) indicator.
Likewise, the Stochastic Relative Strength Index (SRSI) lines are rising steeply in a more vigorous manner. As a result, with the market gaining upside traction since the previous session, this suggests that bulls are gathering more momentum as trading progresses.
Pendle Charges Towards the $4.500 Price Level
Although price action in the PENDLE/USDT 4-hour chart reveals that bullish forces are maintaining momentum, the last price candle on this chart stands above the upper limit of the BB indicator and lacks any shadow above or below.
Also, the lines of the SRSI indicator have risen higher into the overbought region but have shown no deflection yet. Considering the appearance of the last price candle, it appears the BB indicator line may continue extending into the overbought region. Technically, this suggests that the market may breach the $4.500 level and proceed toward the $5.00 mark.
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