Pendle stock is trading at around $5.

Its daily trading volume increased by more than 14%.

After a slight rise, the market showed mixed signals regarding digital assets. A state of neutrality generally prevails in the market, with the fear and greed index stabilizing at 50. Bitcoin (BTC) and Ethereum (ETH), the largest assets, hover around $113.4 thousand and $4.2 thousand, respectively. Meanwhile, Pendle currency, among the list of alternative currencies, recorded an increase of 6%.

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In the early hours of trading, Pendle traded at its daily low of $5.12. After testing the resistance level between $5.17 and $5.47 and breaking through it, the price rose to its highest level of $5.52. As the next pivotal resistance level approaches, a potential breakout may occur, leading to further gains.

CoinMarketCap data indicates that at the time of writing this report, with a slight upward trend, Pendle was traded at $5.47, with a market cap of $916.87 million. Furthermore, the daily trading volume increased by over 14.35%, reaching a range of $118.81 million.

What are the main price targets for Pendle stock?

The Moving Average Convergence Divergence (MACD) line for Pendle stock is above the zero line, with the signal line below it. This crossover indicates a potential momentum reversal from the downward area. It is worth noting that the Chaikin Money Flow (CMF) indicator is at 0.09, indicating a positive cash flow for the asset. There is also slight buying pressure in the market.

PENDLE chart (Source: TradingView)

If Pendle's stock price rises, it may rise and test the resistance level at $5.53. With the increasing strength of the upward correction, a golden crossover may appear, pushing the stock price towards the next vital resistance level at $5.59. However, assuming bear dominance over the stock, the price may face the risk of loss. Pendle stock may find support at $5.41. Any further decline could trigger a death crossover, pushing the price down to $5.35.

Additionally, the daily Relative Strength Index (RSI) for the stock is at 52.45, in the neutral zone. It does not provide a strong signal for buying or selling. The reading of the Bull Bears Power (BBP) for Pendle stock, which is 0.102, indicates bull dominance, as the value is positive. With this value, which is not particularly strong, bulls can push the price upward.