Pendle Finance faces a critical test at the $4.40 support level while showing significant growth in total value locked (TVL).
Price Analysis and Projections
Crypto analyst Ali Martinez has highlighted that traders should watch the $4.40 level. He explained via a TradingView chart that Pendle has been moving inside a rising parallel channel since mid-June. The token tested the lower boundary of the channel around $4.40 before starting a recovery attempt.
He noted that Fibonacci retracement levels indicate resistance near $4.80 and $5.20. Losing the $4.40 level could expose Pendle to a decline towards $3.80. '$4.40 remains the support that must hold to pave the way for a rally,' he noted.
Growth of Pendle Finance TVL
While technical signals command attention, Pendle Finance has achieved a new milestone in decentralized finance. Data from Token Terminal indicates that total value locked in the protocol has reached $11.3 billion, marking a 250% increase since May.
Pendle's Cross-Chain Adoption
The TVL distribution confirms Ethereum, Hyperliquid, and BNB Chain as the top three networks driving liquidity. Additional contributions are coming from Arbitrum, Base, Berachain, HyperEVM, and Sonic. This cross-chain adoption indicates Pendle’s expanding footprint across multiple ecosystems.
With rising TVL and a key support test underway, Pendle continues to attract attention from traders and decentralized finance participants.
