Features Crypto News by Thebittimes.Com

The Pendle price plunged 6% in the last 24 hours to trade at $3.96 as of 03:23 a.m. EST on trading volume that tumbled 38% to $292 million. This comes after former BitMex CEO Arthur Hayes sold 1.59 million $PENDLE. The PENDLE price spiked 24% after the sale, leaving Hayes with a loss of $1.29 million before the subsequent decline. Pendle Price Could Continue Soaring The surge may be as a result of the bulls capitalizing on the inverse head and shoulder pattern, soaring from the neckline at $3.52, according to data from GeckoTerminal. The uptrend pushed the Pendle price above both the 50-day and 200-day Simple Moving Averages (SMAs), a confirmation of the bullish stance. If the bulls continue to capitalize on the inverse head-and-shoulder pattern, the Pendle price could soar even further. The bulls are eyeing the $4.62 resistance, a 17% increase from the current price. Pendle Price Chart Analysis Source: GeckoTerminal.com Conversely, the Relative Strength Index (RSI) is tra...

Join Our Telegram channel to stay up to date on breaking news coverage The digital currency market has been exposed to rather unfavorable conditions for nearly a full year now, after starting in mid-November 2021. Around this time, Bitcoin, as well as most altcoins, have reached their new ATHs and that concluded the bullish part of the cycle that cryptocurrencies are following, leading directly to a price drop that has been pushing the prices down ever since. The price crash has also been increased due to unfavorable macroeconomic conditions, and the US Federal Reserve has so far been unable to prevent inflation in any significant way. While the situation does not seem favorable, there are some that believe that the situation will turn for the better, and relatively soon, at that. Of course, most skeptics would argue that this is just wishful thinking by optimists, but such arguments lose weight when positive expectations come from someone as influential and respected as the ...