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The Pendle price plunged 20% in the last 24 hours to trade at $4.52 as of 02:30 a.m. EST on trading volume that soared 277% to $212 million.
The PENDLE price fell the most among the largest 100 cryptos by market capitalization even as the overall crypto market cap rose a fraction to $2.33 trillion and as Bitcoin climbed 1%.
Pendle Price Set To Soar Over The Falling Wedge Pattern
Since mid-March, the Pendle price has been on an upward trend, with a mark up phase to push the price to a new all-time high (ARH) of $7.50. The PENDLE price has not been able to reclaim this level, with the price dropping within the falling wedge pattern.
The current trend is, however, bearish, with the price dropping below the lower boundary of the falling wedge.
PENDLE is also trading below both the 50-day and 200-day Simple Moving Averages (SMAs), coinciding with the downtrend below the wedge.
The Relative Strength Index (RSI) is also trending downward below the 30-oversold level, currently at 20. With the RSI below the 30-oversold region, it indicates that PENDLE is currently under intense selling pressure.
Pendle Price Prediction
The Pendle price analysis shows that PENDLE is currently on a bearish trend, with the price trading downward within the falling wedge pattern, and breaching the $5.00 support level.
The major indicators, including the RSI and the price trading below the SMAs, are a signal that PENDLE is moving on a downtrend. Additionally, the 50-day SMA is crossing slightly above the 200-day SMA, which is forming a death cross at $5.861. A death cross could prompt a further trend downwards to the next support around $4.0.
However, the RSI already crossing below the oversold level could prompt the bull to initiate a buyback, which could eventually push the price. The falling wedge pattern also could support the uptrend at this level, as the bulls target $7.00.
Meanwhile, as the Pendle price bulls gear up for a trend reversal, many investors are piling into new presale $WAI, which has already raised $647k.
New AI Meme Coin WienerAI Raises Almost $650K
WienerAI (WAI) has been grabbing attention in the crypto market. Its surge in popularity can be attributed to its clever integration of two red hot niches in the crypto sphere: meme coins and AI tokens.
Tail-Wagging Success
Wiener AI Raises Over $500,000 in Funding! 🌭🚀 pic.twitter.com/7aB1wXg5PZ
— WienerAI (@WienerDogAI) April 29, 2024
The project merges artificial intelligence with a dachshund, while adding a playful nod to delicious sausages as it aims to emulate and surpass the success of other top dog-themed meme coins like Dogecoin or Shiba Inu.
WienerAI IS CLEARED FOR LIFTOFF!
Get Presale Here: https://t.co/g0LrikQz90 pic.twitter.com/fy7xF5DtKP
— WienerAI (@WienerDogAI) April 22, 2024
Investors can also stake $WAI for an impressive 1,340% annual percentage yield (APY). The development team has set aside 20% of the 69 billion token supply for staking rewards.
According to 99Bitcoins, a popular YouTube channel with more than 700,000 subscribers, WienerAI has the potential to surge 100X after launch.
To participate in the presale, you can purchase $WAI tokens on the official website here for $0.000702 each.
Act soon if you are interested before a price hike in less than 24 hours. You can use ETH, USDT, or your bank card to make the purchase.
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