1. Technical Analysis
a. RSI (Relative Strength Index):
The daily RSI is in the overbought zone (70+), indicating a potential correction in the near term. However, there is no significant bearish divergence【11】【12】.
The RSI on the lower timeframe (4 hours) shows a slowdown, while the weekly RSI remains bullish, indicating long-term upward momentum【11】.
b. Moving Averages (MA/EMA):
The daily MA20 is above the MA50 and MA200, indicating a strong uptrend.
The weekly MA also supports the cumulative bullish trend. The short MA (20-day) is moving faster than the long MA (200-day), confirming the upward momentum【11】【12】.
c. MACD (Moving Average Convergence Divergence):
The MACD histogram is positive but weakening, indicating that momentum is starting to wane.
A bullish MACD crossover was seen on the daily timeframe about 2 weeks ago, supporting the recent price rally【12】.
d. Bollinger Bands:
Price is approaching the upper limit of Bollinger Bands, indicating overbought conditions. Bands are widening, indicating high volatility【12】.
e. Trading Volume:
Daily volume reached $125 million, down 48.7% from the previous day, indicating a potential weakening of price momentum【11】【12】.
Volume Price Trend (VPT) still supports the overall uptrend.
f. Support and Resistance:
Support kunci: $6,20 (Fibonacci retracement 0,618).
Key resistance: $6.90 and $7.50 (previous ATH)【12】.
g. Significant Price Patterns:
An ascending triangle pattern is seen, with a breakout possible towards $7.50 if volume supports.
h. Price Prediction:
In the short term: A small correction towards $6.20 is possible before resuming the uptrend.
Long term: Target $8+ if market momentum remains supportive.
---
2. Fundamental Analysis
a. Network Adoption:
Pendle has become one of the most popular tokens in DeFi, with an increasing ecosystem of applications and new integrations on yield farming-based platforms【11】【12】.
b. Token Usage:
High volumes on Binance and other exchanges indicate steady investor interest.
Token distribution appears even, reducing the risk of manipulation by whales【11】【12】.
c. Innovation and Technology:
Pendle has met several roadmap milestones this year, including the development of new features for yield trading, adding to market confidence【11】.
d. Competition:
Compared to other DeFi coins, Pendle has an advantage in the field of smart contract innovation for yield management. However, it must still compete with large tokens such as Curve and Aave.
---
3. Market Sentiment
a. External News:
There was no significant negative news, while the community remains optimistic about Pendle【11】【12】's long-term potential.
b. Community Sentiment:
Community sentiment is very bullish (89% optimistic). Discussions on platforms like Twitter and Discord increased by 【11】.
c. Sentiment Evaluation:
The overall crypto Fear and Greed Index is in the greed zone, supporting a bullish market.
Conclusion:
Pendle is currently in a strong uptrend with technical and fundamental support. However, high volatility and potential corrections in the short term need to be watched out for. In the long term, ecosystem development and positive market momentum can push the price towards a new ATH.