CandleFocus

Can PENDLE Crypto Surpass $20 Amid Increased Fund Deposits, Whale Activity?

The crypto token PENDLE has displayed an ascending triangle pattern, indicating sustained buying interest. Resistance at $6.50 has proven to be a crucial barrier, but if PENDLE can break above this level, there is potential for it to reach $20. The recent increase in activity from institutional funds and whales suggests that there may be enough capital influx to drive PENDLE's price towards the projected target. The balance over time of the Pendle ecosystem has shown an overall ascending trend, with deposits to major exchanges occurring at market junctures, indicating potential rallies or profit-taking scenarios. The increase in staking among PENDLE token holders, influenced by whale actions, suggests a growing trend within the community to capitalize on DeFi opportunities.

Related News