Pendle (PENDLE) Price Prediction 2024-2030: Will PENDLE Price Hit $10 Soon?

• The bullish PENDLE price prediction ranges from $4.12 to $4.67.
• PENDLE price might also reach $5.23 in 2024.
• PENDLE’s bearish market price prediction for 2024 is $1.563.

What is Pendle (PENDLE)?

As described in the document, Pendle is a permissionless yield-trading protocol where users can execute various yield-management strategies. Pendle is divided into three main parts, such as Yield Tokenization, Pendle AMM, and vePendle. 

Pendle focuses on unlocking the full potential of yield, allowing users to implement advanced yield strategies. Some of the strategies provided by Pendle include fixed yield, long yield, and earning more yield without additional risks.

As one of the parts of Pendle, yield tokenization is the process where the yield is tokenized into a separate token. The initial process includes Pendle wrapping yield-bearing tokens into SY (standardized yield tokens), a wrapped version of the underlying yield-bearing token that is compatible with the Pendle AMM. SY is then split into its principal and yield components, PT (principal token) and YT (yield token), respectively.

Both the PT and the YT can be traded in Pendle’s AMM. The Pendle AMM is dubbed the “core engine” of this yield-tradign protocol. The vePENDLE aka Vote-escrowed PENDLE, offers governance utilities. Users can lock the native token PENDLE to receive vePENDLE.

Pendle (PENDLE) Market Overview

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Pendle (PENDLE) Current Market Status 

The maximum supply of PENDLE is unknown, while its circulating supply is 238,185,588 PENDLE, according to CoinMarketCap. At the time of writing, PENDLE is trading at $2.66, representing a one-day spike of 18.73%. The trading volume of PENDLE in the past 24 hours represents a 139.69% spike. 

Meanwhile, in the seven day chart, PENDLE is able to maintain steady growth over the week as it continues to trade in the green zone of the chart. For those interested in purchasing PENDLE, the  top cryptocurrency exchanges for trading PENDLE are Binance, Bybit, HTX, KuCoin, Gate.io, and others. Now that you know what PENDLE is and its current market status, we shall discuss its price analysis for 2024.

Pendle (PENDLE) Price Analysis – Bollinger Bands

The Bollinger Bands are a technical analysis tool that is used to analyze price movement and volatility. Bollinger Bands (BB) utilize the time period and the standard deviation of the price. Normally, the default value of BB’s period is set at 20. The upper band of the BB is calculated by adding 2 times the standard deviations to the Simple Moving Average (SMA), while the lower band is calculated by subtracting 2 times the standard deviation from the SMA. Based on the empirical law of standard deviation, 95% of the data sets will fall within the two standard deviations of the mean.

The bands expanded during the candlestick uptrend spike in the market. During the uptrend, the candlesticks were hugging the upper band of the indicator as it continued to rise in value and break through several target levels. After the massive surge, the bands contracted, causing the altcoin to experience a gradual rise in the stable market. 

However, the fall, a response to the sudden surge, caused the band to create tremors in the market, turning the tide of the trend and trading sentiment. It seems that BBWP has also signalled the traders that the bands would contract after the tremors in the market. While staying in the top-half region of the indicator, the altcoin is now moving upwards while the bands pave a narrow path for the altcoin. 

Pendle (PENDLE) Price Analysis – Relative Strength Index (RSI)

The Relative Strength Index (RSI) is a momentum indicator utilized to find out the current trend of the price movement and determine if it is in the oversold or overbought region. Traders often use this tool to make decisions about when to buy or sell the tokens. When the RSI is often valued below or at 30, it is considered an oversold region, and a price correction could happen soon. Moreover, when the RSI is valued above or at 70, it is considered an overbought region, and traders expect the price to fall soon.

Looking at the above chart, the RSI is currently at 66.09 and moving closer to the overbought region. The gradual spike in the stable market happened after the candlesticks crossed above the upper band. 

This triggered the altcoin to face a slight correction before it could start its uptrend journey. If the RSI touches or crosses the 70 region, traders can expect a price correction to happen soon. The upward momentum could cause the RSI to fall and make a bearish cross soon.

Pendle (PENDLE) Price Analysis – Moving Average Convergence Divergence (MACD)

The Moving Average Convergence Divergence (MACD) indicator helps the trader easily identify the trend of an asset and its current sentiment. Basically, MACD shows the difference between two Exponential Moving Averages (EMA) and helps traders see the crossover between them. By default, MACD has a set value of 12-day EMA, 26-EMA, and 9-day EMA. The MACD allows users to easily see the price trend through its line and histogram visualizations.

With the green bars still existing in the histogram, there is a high chance that PENDLE could break short term resistance levels. However, the growth of these green bars has been diminishing. This could be a sign that the altcoin is losing the trend’s strength and could fall in the short-term period. If the altcoins do fall soon, there is a higher chance that the altcoin could seek support from the 200SMA line before bouncing again once more into new heights. 

Pendle (PENDLE) Price Prediction 2024 

After observing the PENDLEUSDT 1-day chart, the altcoin would face a slight retracement when the candlesticks reached the maximum peak. After touching this peak, the price would decrease before receiving a boost to break through several weak resistance levels. So far, PENDLE has experienced this correction two times. 

The recent price action showcased by PENDLE could be a similar correction as observed in the past two times. One of the common areas where PENDLE would fall back is the 0.236 and 0.382 Fib levels. The 0.382 FIB is highly regarded as a pullback zone for most traders, and as such, we can expect a similar correction. Due to the recent fall, the price action is highlighting that the trend is bearish in nature. However, we can expect the prices to surge once again. 

Expecting a bullish performance this year, PENDLE has the potential to reach new levels of targets and has the potential to trading near the $4 by end of this year. Additionally, if the traders showcase an extreme bullish sentiment, then, it could even cross beyond the $5 level. 

Pendle (PENDLE) Price Prediction 2025

PENDLE could still experience the after-effects of the Bitcoin halving and is expected to trade above its 2024 price. Many trade analysts speculate that BTC halving could create a huge impact on the crypto market. Moreover, similar to many altcoins, PENDLE will continue to rise in 2025, forming new resistance levels. It is expected that PENDLE will trade beyond the $6 level.

Pendle (PENDLE) Price Prediction 2026

It is expected that after a long period of bull runs, the bears will come into power and start negatively impacting cryptocurrencies. During this bearish sentiment, PENDLE could tumble into its support region of $5. Moreover, when PENDLE remains in the oversold region, there could be a price correction soon. PENDLE, by the end of 2026, could be trading beyond the $8 resistance level after experiencing the price correction.

Pendle (PENDLE) Price Prediction 2027

Naturally, traders expect bullish market sentiment after the crypto industry was negatively affected by the bears. PENDLE is expected to rise after its slumber in the bear season. Moreover, PENDLE could even break more resistance levels as it continues to recover from the bearish run. Therefore, PENDLE is expected to trade at $11 by the end of 2027.

Pendle (PENDLE) Price Prediction 2028

Once again, the crypto community is looking forward to this year, as there will be a Bitcoin halving. Like many altcoins, PENDLE will continue to form new higher highs and is expected to move on an upward trajectory. Hence, PENDLE would be trading at $15 after experiencing a massive surge by the end of 2028.

Pendle (PENDLE) Price Prediction 2029

2029 is expected to be another bull run due to the aftermath of the BTC halving. However, traders speculate that the crypto market will gradually become stable by this year. In tandem with the stable market sentiment and the slight price surge expected after the aftermath, PENDLE could be trading at $17 by the end of 2029.

Pendle (PENDLE) Price Prediction 2030

After witnessing a bullish run in the market, PENDLE and many altcoins would show signs of consolidation and might trade sideways for some time while experiencing minor spikes. Therefore, by the end of 2030, PENDLE could be trading at $18.

Pendle (PENDLE) Price Prediction 2040

The long-term forecast for PENDLE indicates that this altcoin could reach a new all-time high (ATH). This would be one of the key moments, as hodlers may expect to sell some of their tokens at the ATH point. However, PENDLE may face a slight fall before starting its upward journey once again. It is expected that the price of PENDLE could reach $21 by 2040.

Pendle (PENDLE) Price Prediction 2050

The community believes that there will be widespread adoption of cryptocurrencies, which could maintain gradual bullish gains. By the end of 2050, if the bullish momentum is maintained, PENDLE could surpass the resistance level of $73.

Conclusion

PENDLE has been on the watch-out list of many investors as it aims to make its mark in the blockchain industry. If investors continue to show interest in PENDLE and add these tokens to their portfolio, then it could continue to rise. PENDLE’s bullish price prediction shows that it could pass beyond the $4 level in 2024. Moreover, PENDLE could surpass the $73 level by the end of 2050.

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