Pendle Price Prediction: 2024, 2025, 2030

PENDLE price prediction: Key highlights

1. Primary support and resistance levels

• Within the daily time frame, $2.1 can be expected to be the lowest floor.
• Conversely, $4.6 proved to be the highest resistance level.

2. Market sentiment

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

3. Predictive forecasts

• Based on projections from our AI/ML predictive algorithms, the average price of PENDLE is forecasted to reach $12 in 2032 and $20 in 2035.

Discover PENDLE’s prospects via a comprehensive daily technical analysis, followed by projections for the coming days of the month, upcoming months, and yearly forecast tables derived from our AI/ML-based predictive models:

PENDLE technical analysis: Bulls struggle to counter sell-offs

Amid the burgeoning traction in decentralized finance (DeFi) and the Ethereum (ETH) restaking boom, PENDLE has emerged as a distinguished asset 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 repeated tests of the peak resistance at $4.6 in late July. This optimism was fleeting as the subsequent downturn caused substantial valuation loss. Predominant red candles drove the token below the lowest analyzed support of $2.4 in early August.

However, PENDLE’s oversold condition catalyzed a recovery. It swiftly reclaimed the lowest floor while challenging $2.7. The gradual accumulation elevated the token over this level by mid-month.

Nevertheless, it struggled to sustain this standing, as evidenced by the subsequent dip. Yet, the price didn't stoop too low, and the bulls decisively reclaimed this level shortly after. 

This renewed rally drove the token to challenge $3.4 at the end of the month. Despite repeated attempts, the bulls failed. The level triggered substantial liquidations as investors started exiting their positions. Therefore, the asset found itself on the opposite end of its previous highs as it returned to $2.7 in early September.
 

This drop was triggered by a $27 million hack involving Penpie, an independent yield optimizer. However, the Pendle network confirmed it saved $105 million in funds. While the former remains paused, operations resumed on Pendle.
 

At the time of the analysis, the DeFi token was trading at $2.8. With a high accompanying volume, the token can resume its uptrend. In this case, the altcoin can reclaim the current resistance, setting the stage for a retest of the peak barrier. Sustained momentum above it can elevate the price as high as $5 by 2024.

Alternatively, if negative conditions prevail, the decline can continue. The market’s downside can lead the price to fall to the lowest floor, possibly plunging further to $2.1.
 

Our predictive models foresee a mediocre growth outlook for PENDLE. By 2032, the average price is expected to be around $12. This upward trajectory is anticipated to continue, leading to an increase by 2035, when the average price is forecasted to reach around $20.

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

• The trading volume remained generally low due to a lack of investor interest. Notably, as the price depreciated below its lowest floor, it triggered an uptick in volume, signaling accumulation.
• The Chaikin Money Flow (CMF) moved over the zero line in late July. After returning to negative values in August, it surged past zero again after mid-month. Its latest observed value of 0.08 indicated an inflow of money into the asset.
• In the Directional Movement Index (DMI), the -DI line overtook the ADX and +DI line in late July, while the latter took the lowest position. However, from early August, it descended with the ADX.
• Meanwhile, the +DI line rose and moved to the top in late August. This was reversed shortly as the -DI reclaimed its dominant position. Nonetheless, the lagging ADX line highlighted weakness in the bearish trend. The latest recorded values were the -DI at 19.7593, +DI at 15.5891, and ADX at 13.5855.