In this Pendle technical analysis, we will examine the current price action, trading volume, key levels and indicators for PENDLE-USDT. Pendle is a decentralized blockchain platform that enables the creation of customizable, interoperable, and scalable dApps. It utilizes a novel consensus algorithm called “Proof-of-Historical Value” to incentivize content creators and contributors within its ecosystem. Pendle’s innovative approach to blockchain technology has the potential to revolutionize the way we interact with decentralized applications and communities online.
Pendle Price Overview:
As of May 18, 2024, Pendle is trading at approximately 4.929 USDT. Let’s dive into the detailed price action for PENDLE-USDT:
| Metric | Value |
|---|---|
| Open (O) | 4.738 |
| High (H) | 5.02 |
| Low (L) | 4.713 |
| Close (C) | 4.929 |
| Volume (C) | 4,035,876.10 |
- Open (O): The opening price for today’s trading session was approximately 4.738 USDT.
- High (H): Pendle reached a daily high of around 5.02 USDT.
- Low (L): The daily low for PENDLE-USDT was approximately 4.713 USDT.
- Close (C): At the time of analysis, Pendle is trading near its daily close of 4.929 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | 4.05% |
| 3D Change (%) | 11.57% |
| 7D Change (%) | 13.44% |
| 30D Change (%) | -17.12% |
| 90D Change (%) | 68.00% |
| YTD Change (%) | 314.76% |
Over the past three days, PENDLEUSDT has increased by approximately 11.57%, showcasing increased market volatility. Throughout the last week, it continued to increase, with a gain of around 13.44%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with PENDLEUSDT maintaining a downward trend of approximately -17.12%, despite intermittent fluctuations. Examining the last 90 days, PENDLEUSDT has witnessed substantial increase of approximately 68.00%, reflecting strong long-term confidence. Year-to-date, PENDLEUSDT has steadily increased by around 314.76%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Pendle Live Chart:
You can access a live price chart for PENDLE-USDT on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 1.07664.
- Momentum score is -0.09973.
PENDLE USDT Technical Analysis
Pendle Trading Volume:
The trading volume for Pendle (PENDLE) over the past 24 hours has been insignificant, with approximately 4,035,876.10 USDT traded against PENDLE. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): PENDLE is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): Pendle is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for PENDLE-USDT is currently in the neutral zone, around 51.3046. This suggests that Pendle is in range-bound territory.
Analysis from TradingView:
Our Key Takeaways:
Pendle (PENDLE-USDT) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the neutral RSI and insignificant trading volume are neutral signals for potential sideways movement.
Explore potential downturns for Pendle (PENDLEUSDT) at 4.93 USDT, supported by cautionary indicators and weakened fundamentals, as revealed in technical analysis.
Unlock additional insights on PENDLE BTC Pendle Technical Analysis with our detailed analysis; a must-read if you enjoyed the content of this post.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.