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The Pendle price pumped 6% in the last 24 hours to trade at $3.00 as of 1:24 a.m. EST on trading volume that surged 26% to $118 million.
According to Lookonchain, there is a reported surge in the number of whales accumulating PENDLE tokens.
Five newly created wallets withdrew a total of $2.66 million PENDLE, valued at $7.9 million, from Binance over the past five days.
Whales are accumulating $PENDLE!
5 newly created wallets withdrew 2.66M $PENDLE($7.9M) from #Binance in the past 5 days.
Address:
0x21fBA58b20f62397c015bc1f5a15f742ad430dFA
0x2EB48c60F4ea75fa0a0Ff5BB017EBD9f5981b8F5
0x11DFEDf01B3FA824BbCB138159B2e6AFE43692a3… pic.twitter.com/hnnXVeUqUY— Lookonchain (@lookonchain) April 2, 2025
Can this renewed interest push the price of Pendle higher?
Pendle Price Preparing For A Bullish Reversal
The PENDLE price has experienced a significant downtrend after reaching its peak near $8.18. The Pendle price retraced to around $2.10, aligning with the 0.786 Fibonacci retracement level, which acted as a support zone.
After this correction, the price of Pendle rebounded, and it is now trading at $3.00, attempting to reclaim lost ground, according to GeckoTerminal data.
Currently, PENDLE faces resistance near the 0.618 Fibonacci level at $3.40. This area will be a crucial battleground for bulls, as breaking above could confirm a trend reversal.
However, if the price fails to break through, the lower support levels may be retested.
The 50 Simple Moving Average (SMA) on the 3-day chart at $4.11 is positioned above the current Pendle price, suggesting the asset is still in a short-term downtrend. The 200 SMA at $3.28 is closer to the current price, making it a significant resistance level to watch. A decisive move above this level could indicate a bullish shift.
Meanwhile, the Relative Strength Index (RSI) is at 48.16, suggesting neutral momentum. It is neither in overbought nor oversold territory, implying the market could swing in either direction depending on volume and sentiment.
The MACD (Moving Average Convergence Divergence) histogram shows a slight bullish crossover, with the blue MACD line at 0.1084 moving above the orange signal line at -0.3579. This suggests early bullish momentum, but more decisive price action is needed to confirm it.
PENDLE Price Aims For $6
If the PENDLE price successfully reclaims the $3.40 level (0.618 Fibonacci), the next key resistance would be around $4.13 (0.5 Fibonacci) and then $5.23 (0.382 Fibonacci).
A breakout above these levels could lead to a strong recovery toward the $6.36 resistance zone, which previously acted as a major supply level.
On the downside, if the price of Pendle fails to break through the $3.28-$3.40 resistance zone, it could retest the $2.10 support level (0.786 Fibonacci). A breakdown below this level would put the asset at risk of further declines toward the $1.50-$1.80 range.
In the meantime, investors are flocking to buy Best Wallet (BEST), which popular YouTuber ClayBro, with over 136K subscribers, says has the potential to soar 10X after launch.
Best Wallet Presale Heads Towards $12 Million – Next Big Crypto?
Best Wallet is rapidly emerging as a top choice for those entering the cryptocurrency market, and its presale has already surged past $11.5 million.
The wallet supports more than 60 blockchains and features a built-in DEX, presale aggregator, and crypto debit card.
Its native token, BEST, powers an ecosystem designed to simplify on-chain activities while minimizing security risks, making it a standout in the competitive crypto wallet space.
Among the many features of Best Wallet, one is gaining outsized interest from investors. That is its “Upcoming Tokens” section, which helps users discover promising projects that are still in the early stages.
The Fastest Growing Wallet in Crypto!
In a crowded market, Best Wallet delivers the tools you need to gain an edge. 🚀
1️⃣ Exclusive alpha on new projects.
2️⃣ Buy and claim tokens in the app.
3️⃣ Manage all your assets across multiple chains in one place.This is why the Best… pic.twitter.com/AT4yos1CmG
— Best Wallet (@BestWalletHQ) December 30, 2024
The project’s success in identifying promising cryptos is already well established. It flagged Pepe Unchained (PEPU) and Catslap (SLAP), meme coins that delivered 500% and 3,000% gains, respectively, for early investors.
Investors can also stake BEST tokens for a huge 135% annual return. Currently, BEST tokens are priced at $0.024575.
Those interested should buy before a price hike in around 36 hours.
Check out BEST on its official website.
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