Pendle, a decentralized finance (DeFi) protocol, showcased notable resilience to the recent market sell-off, with its coin price rebounding from $4.9 support. This positive upswing recorded 42% growth within three days and pushed the asset value to $6.97. Moreover, with the upcoming Bitcoin Halving just around the corner, the broader is expected to witness a renewed recovery potential impact on the Pendle price for higher recovery.
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Whale Transactions Hint at Cautious Optimism for Pendle Price Recovery
Pendle Price| Tradingview
Despite broader market consolidation, Pendle coin has shown a robust recovery since mid-March, surging 225% from $2.30 to a high of $7.53. However, the geopolitical issue in the Middle East triggered a temporary pullback to $4.9, before the asset regained its above at $6.88.
As per the Fibonacci retracement tool, the Pendle rebounded from the 50% pullback, indicating constructive correction which allowed bu
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