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The Pendle price has surged 14% in the last 24 hours to trade at $5.76 as of 7:05 a.m. EST on a 207% surge in trading volume to $335 million.
Pendle has been attracting considerable attention in today’s market, placing the token among the top performers in terms of percentage gains among the top 100 coins by market capitalization.
Its surge can be attributed to several factors, one of the most significant being its impressive growth in total value locked (TVL), which has skyrocketed from $240 million at the start of the year to nearly $4 billion by April, according to DefiLlama
Pendle Price Bulls Drive the Momentum Along the Rising Channel Pattern
PENDLEUSDT Analysis. Source: Tradingview.com
The Pendle price indicates a rebound after the decline from its all-time high following a prolonged downtrend. The support zone at $2.34 empowers bulls to drive the price higher, trading within the rising channel pattern.
Despite the decline at $5.74, the bullish investors have proven resilient, pushing the price up from the support level of $4.68 to reach a new ATH of $6.72.
The 50 Simple Moving Average (SMA) acting as support for the price contributes to the upward momentum, suggesting the possibility of another surge in bullish activity that could help recover some of the previously lost ground.
The Pendle price bulls have also pushed the price above the 50-day and 200-day simple moving averages (SMAs). However, increasing the general bullish momentum could help the bulls drive the price to its ATH at $0.0000004360.
Though indicating a downtrend, the Relative Strength Index (RSI) is generally upwardly moving 43 below the 50 midline level to 69. Increased momentum should cause the RSI to jump its current 55 into the overbought zone, confirming the rally.
The MACD is also positive, trading above the neutral position as the blue line crosses the orange signal line to signal a bullish sentiment. The histogram bars are also turning positive above the neutral position
The Pendle Price Could Encounter A Downturn
The appearance of the red engulfing candlestick suggests that the Pendle price is encountering resistance around the $6.42 level, leading to a downward movement as the bears take control. This correction phase could gain momentum, potentially pushing the price down further. As a result, the bulls may be forced to retreat towards the lower boundary of the channel, which is around $5.34.
However, the 50 SMA acts as immediate support for the Pendle price. This might initiate a rebound, causing the bulls to regain control and drive the price past its current all-time high of $6.71.
While investors are considering their next Pendle moves, the 5SCAPE token is experiencing a significant surge during its presale phase.
This presents an attractive opportunity for those looking for potentially high returns with analysts saying that 5SCAPE could explode on launch.
A Promising Alternative To Pendle, Buy Now!
5SCAPE has surpassed $3.9 million in funds raised in its presale as it swiftly moves towards its $5 million target. The project stands out as the first AR/VR mixed-reality crypto platform focused on revolutionizing the gaming industry.
5thScape, the cutting-edge crypto project poised to revolutionize augmented and virtual reality, offers investors an opportunity to dive into the future of immersive gaming.
With plans for innovative VR hardware and a diverse range of games, including Cage Conquest and Epic… pic.twitter.com/FaIicOGq3w
— 5th Scape (@5th_scape) March 23, 2024
5thScape strives to combine blockchain technology with virtual reality (VR), offering users an exciting and transformative experience. The project’s team is currently developing a complete VR/AR ecosystem, which includes game development, animation, and specialized hardware manufacturing, all aimed at encouraging widespread adoption.
VR is the future. Learn how the University of National Horizons Centre is Leveraging VR & MR.#VR pic.twitter.com/PKBVqVYUwf
— 5th Scape (@5th_scape) March 20, 2024
The 5SCAPE token serves as the driving force behind the 5th Scape VR ecosystem, a project that aims to propel the Web3 sector into the future by bringing together the brightest minds. In pursuit of this goal, it’s unleashing a new wave of gaming innovation within the VR industry.
The unique play-to-earn feature allows users to earn passive income by playing Web3 games such as MMA Cage Conquest, Thrust Hunter, Immersive Kickoff, and Archery Master.
🔥 Unleash your fighting spirit in the electrifying world of MMA Cage Conquest! with #5scape
🎮 Get a first look at the official trailer and experience the adrenaline of virtual reality combat.
Are you ready to rise as the ultimate champion? Watch now: https://t.co/bHLiYMurCa… pic.twitter.com/K0CZkFWgws
— 5th Scape (@5th_scape) February 13, 2024
5SCAPE is currently in its fourth stage of presale, priced at $0.00285 per token. Considering the launch price is set at $0.01, investors who invest now lock in gains of 250% before the token becomes available for trading.
🚀 Our presale has surged past stage 3!
🌐 Join us now and delve into a world of virtual reality with our multi-utility token.
🎉 Don't miss out on being part of our vibrant community! #cryptocrash #cryptocrash #Wormhole #cryptocurrency #5thScape #Presale #4thstage 🌟 pic.twitter.com/QeznEVAvFJ
— 5th Scape (@5th_scape) April 4, 2024
With a 15% price increase coming in a little more than three days, the best time to buy is now.
Visit the official website to buy 5SCAPE here using ETH, MATIC, USDT, BNB or a bank card.
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