The Pendle price challenges the bottom trendline of an inverted flag pattern for a potential breakdown.
A stagnant TVL at $2.25 signals reduced investor participation in the Pendle ecosystem.
The open interest tied to Pendle futures contracts at $32 million showcase a lack of speculative force to support price recovery.
PENDLE, the native utility token of the Pendle finance protocol, slips 1.43% during Tuesday’s U.S. market hours to trade at $1.25. The downtick aligns with broader market pullback as the Federal Reverse decision to hold rate cut steady on Wednesday, triggered a risk-off sentiment in the market. However, the Pendle price faces additional pressure as sluggish trend in total volume locked and futures trading indicate limited capital flowing into protocol.
Pendle Price Stalls as Weak Liquidity Signal Extended Consolidation
On March 19th, the crypto market extended its downtrend which pulled its market cap to $2.41 trillion, registering 1.14% loss. The s
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