Pendle crypto asset could start a bearishThe Pendle crypto price was in the bull court from the beginning of the year 2024 and skyrocketed from the price of $1.0 to $7.5 by April 11th, 2024. It has achieved good performance in the last week, month, and quarter by 6.81%, 120.72%, and 282.98% respectively, implying a robust upward direction.
However, the Pendle crypto has revealed a sign of slump as the price shows struggling signs at the top supply level and showing an urge for a massive drop from a critical level of around $7.50 price level on the chart, contingent on seller pressure.
Indicator Analysis Of Pendle Crypto
The Pendle asset appears bearish as it is showing struggling signs and could head downwards to breach the dynamic supports of 20-day and 50-day EMA's from above and this shows that depending on the seller's surge it has a massive room to fall.
furthermore, the Pendle crypto asset could start a bearish trend, if the price fails to struggle at the top, and coincidingly the MACD has started to decline and could cut the signal line from above.
Meanwhile, the RSI is aiming to move lower as it has been struggling to hold in extremely overbought territory from some previous sessions, a push from the bear side could start deterioration.
Pendle Price Forecast
At the time of publishing, the Pendle crypto is at $6.77 and shows an intraday rise of 0.74%.
Therefore, if the Pendle fails to maintain the $6.0 price level, the price could show a spectacular drop. however, if the price manages to beat the supply level, the price could break out for the upside and reach $8.0, and $10.0.
