Pendle Price Prediction: 2024, 2025, 2030

PENDLE price prediction: Key highlights

1. Primary support and resistance levels

• Within the daily timeframe, a support level of $2.5 was established as the lowest floor.
• Conversely, $7.0 proved to be the highest resistance level.

2. Market sentiment

• PENDLE is seen to be in a bearish market in May 2024.

3. Predictive forecasts

• According to our AI/ML predictive models, the average price of PENDLE is projected to reach over $160 in 2028 and $3,000 in 2032.

Gain deep insights on PENDLE via a comprehensive daily technical analysis, followed by the coming days of the month, upcoming months, and yearly forecast tables derived from our AI/ML-based predictive models: 

PENDLE technical analysis: Can the price rebound from its lows?

Amid the burgeoning traction in decentralized finance (DeFi) and the Ethereum (ETH) restaking boom, PENDLE has emerged as a focal point within the cryptocurrency community. A meticulous examination of the daily chart for the asset provides a deep dive into its recent price activities, laying a crucial groundwork for the Pendle price prediction for 2024. 
 

The initial period was characterized by a palpable selling pressure, suggesting a bearish sentiment among investors. Following the rejection at $3.0, the price experienced a downturn. This decline caused the price to fall momentarily below its lowest observed support at $2.5.
 

Notwithstanding, this narrative took a promising turn in the latter half of March, as PENDLE reaffirmed $3.0 as a reliable support level. The positive trend continued, propelling the token to challenge a higher resistance level at $5.5 as the month concluded. Although this upward movement encountered a minor corrective pullback, it set the stage for further advancements in April.
 

April witnessed a robust bullish surge, propelling the price beyond this resistance level. This momentum carried the token to test the $7.0 resistance toward the close of the first week. AMBCrypto recently uncovered that PENDLE’s pump was triggered by the increase in the Total Value Locked (TVL). 
 

Data from DefiLlama showed that Pendle's TVL witnessed an exponential rise from $240 million at the outset of the year to a staggering nearly $4 billion by April. As of the latest report, it stood at $4.082 billion. This was attributed to a substantial injection of USDe, a synthetic stablecoin developed by Ethena Labs. 
 

Notably, the token achieved a new all-time high (ATH) of $7.5 on April 11. AMBCrypto noted that the asset witnessed triple-digit growth. Additionally, all of the holders remained in profit. However, this also flashed sell-off warning signs.

Data from Lookonchain pointed to one such whale—HashKey. According to the tweet, HashKey transferred 500,000 PENDLE, valued at $3.54 million, to Binance. Historically, this whale has been known to purchase PENDLE at lower prices and sell it during price surges.

Despite the massive growth, the bulls couldn't overcome the high resistance level. They struggled to stand afoot on the $6.2 support level, causing it to be breached frequently. Yet, $5.5 provided a cushion to prevent a further downturn.
 

The bullish struggles amplified closer to late April as the price tumbled below $5.5. As the month ended, the token shed much of its gains as the trend turned bearish. This drop could be linked to the criticism surrounding the EigenLayer airdrop, which affected market sentiment and led to heightened volatility. 
 

Consequently, Spot On Chain highlighted that HashKey withdrew 178,126 PENDLE, valued at $771,000, from Binance at a price of $4.33, increasing their total holdings to 624,804 PENDLE, worth $2.71 million. At the time of this analysis, the DeFi token was trading at $4.2, with the $4.1 support under test to prevent further declines.
 

An increase in selling sentiment can put the current support at high risk. The market’s downside potential might even lead the price to fall as low as $3.0, with the bearish possibility of revisiting the lowest support.
 

Notwithstanding, the current extreme bearish conditions can likely trigger a rebound for the price. If the bulls manage to initiate another rally, PENDLE can retrace its steps above $5.5, tilting the trend in their favor. Sustained momentum above the current peak resistance can elevate the price as high as $10 by 2024.

Our predictive models foresee a robust long-term growth outlook for PENDLE. By 2028, the average price is expected to surpass $160. This upward trajectory is anticipated to continue, leading to an even more substantial increase by 2032, when the average price is forecasted to reach around $3,000.

PENDLE's 2024 roadmap: Key indicators to watch and trade

• The trading volume reflected the price movements as substantial recoveries were noted as the price appreciated. The price declines caused the volume to drop. Notably, the recent drops saw an uptick in volume.
• The Awesome Oscillator (AO) moved across the zero line in late March and predominantly maintained its position above it. The positive values continued to rise until the second week of April, when the indicator reversed its trajectory.
• It eventually dropped below zero by the close of April. At press time, the AO stood at -0.876. This pointed to an ongoing bearish trend.
• The Bollinger Bands remained contracted at the outset. As the asset's price reclaimed the $3.0 mark and continued its upward movement, it not only remained above the 20-day Moving Average (MA) but also frequently breached the upper band, causing significant expansion. 
• This pattern suggested that the market was overvalued, leading to minor pullbacks. Towards mid-April, the candles fell below the 20 MA again, albeit with a brief surge above it later in the month. This caused the bands to contract.
• As the month ended, the price crossed below the lower band and remained there by the end of the analysis. This indicated that the asset was potentially oversold, which might lead to a reversal if buyers step in.