• Pendle's price surged due to its rapid increase in total value locked (TVL) and other important factors.
• The price of $PENDLE rose by more than 27% in the last 24 hours, driven by strong buying activity.
• Over the past 16 days, the crypto price of Pendle has seen a notable uptrend, climbing by 161%.
• In the daily timeframe, Pendle's price hit a record high of $6.67, indicating a positive trend.
• Despite a slight pullback following this peak, the price held above $6.00, suggesting possible support at this level.
• Currently, on the 4-hour chart, Pendle is forming a Bullish Pennant Pattern, hinting at a consolidation phase post a significant price jump.
• On the weekly chart, there seems to be the formation of a Three White Soldiers Pattern, usually indicating a strong bullish reversal.
• Should the Bulls break through the Bullish Pennant Pattern successfully, it could signal further upward movement for Pendle, with a potential target range of $8-$10 in the near term.
• Conversely, a drop below $6 in Pendle's price could lead to a decline towards $5, potentially sparking panic selling among investors, underscoring a critical support level to monitor.
• Coingabbar's analysis forecasts a price surge to $50 by 2030 and a possibility of reaching $200 by 2040 for PENDLE.

KEY LEVELS :

RESISTANCE LEVEL : $7.0000-$8.0000

SUPPORT LEVEL : $5.2000-$4.4000

Please note that Coingabbar's insights and charts on cryptocurrencies and other decentralized investments are purely for informational purposes and not financial advice. Users should do their research, exercise judgment, and understand the risks associated with financial instruments. Coingabbar holds no responsibility for any financial losses as cryptocurrency and NFT markets can be highly volatile. It's advisable for users to consult financial experts and evaluate their risk tolerance before making investments.