Pendle Price Prediction: 2024, 2025, 2030

PENDLE price prediction: Key highlights

1. Primary support and resistance levels

• Within the daily time frame, $2.50 can be expected to be the lowest floor.
• Conversely, $7.00 proved to be the highest resistance level.

2. Market sentiment

• PENDLE is seen to be oversold amid a bearish market in July 2024.

3. Predictive forecasts

• Based on projections from our AI/ML predictive algorithms, the average price of PENDLE is forecasted to reach over $150 in 2028 and $3,000 in 2032.

Discover PENDLE’s prospects 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 low prices attract investors?

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 palpable buying pressure, which saw the asset rally from a low of $3.88 in mid-May. PENDLE trended upwards and managed to overcome all previous resistance levels. The northbound journey continued until it reached the highest resistance at $7.00.
 

A test of this level triggered substantial liquidations as investors started exiting their positions. Therefore, the asset found itself on the opposite end of its previous highs. This downward pressure countered the bullish attempts to maintain standing at $6.02 in early June, flipping it bearishly by the close of the first week.

After stabilizing at $4.92, the bulls resumed rallying mid-month. AMBCrypto reported that the price saw a double-digit uptick. This ascension, bolstered by PENDLE’s addition to BitMEX co-founder Arthur Hayes’ portfolio, made it the asset with the most gains during this time. 

Consequently, the asset reclaimed $6.02 momentarily. Nonetheless, the trajectory reversed as the price returned to $4.92 by the end of the month. As the calendar turned to July, a substantial drop turned this support into resistance, making PENDLE one of the greatest losers in the market.

This wasn’t the end of bullish worries, as the downtrend drove the asset below $3.88. At the time of the analysis, the DeFi token was trading at $3.42, staying close to its lowest chart support at $3.20.

This extensive selling frenzy has driven the asset into an oversold condition, opening a range of potential future directions. Firstly, it could rebound or stabilize in a consolidation phase. If buyers use this as an opportunity to enter the market, the price can recover.
 

With a high accompanying volume, the token can move north to retrace its previous uptrend while flipping all current resistance levels. If this rally continues, PENDLE can reclaim its all-time high (ATH), setting the stage for more gains. Sustained momentum above the current peak resistance can elevate the price as high as $10 by 2024.

Alternatively, if negative conditions prevail, the decline may continue. The market’s downside can lead the price to fall as low as $2.86, possibly plunging further to $2.50.
 

Our predictive models foresee a robust long-term growth outlook for PENDLE. By 2028, the average price is expected to surpass $150. 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 it dropped along with the price while also supporting rallies. Notably, as the price depreciated toward its lowest floor, it triggered an uptick in volume, signaling accumulation.
• The Awesome Oscillator (AO) turned bullish in late May. However, the indicator’s positive values started diminishing from the month’s end, culminating in it dropping below the zero line close to mid-June.
• After a brief surge later in the month, the AO retraced its steps, experiencing intensifying negative momentum. At press time, it stood at -1.109, highlighting strengthening bearish momentum.
• The Bollinger Bands’ contraction reversed as the price climbed above the 20-day Moving Average (MA) and frequently crossed the upper band due to the initial rally. Nevertheless, the 20 MA flipped to resistance by early June, with the candles slightly crossing the lower band, repelling the bands again.
• The price candles briefly retook a dominant position over the MA mid-month before decisively falling beneath again. By early July, they crossed the lower band, falling below it frequently. This indicated that the asset was undervalued, and a recovery might follow.