After many efforts, Pendle (PENDLE) finally has aligned itself with the gainers list amid the broader market recovery. Investor sentiments have been high since the Fed interest rate cut, which has brought a new wave of recovery to the crypto market.
After the Fed rate cut, Bitcoin and several altcoins are rising in the bullish wave. Better late than never, Pendle has joined the list of altcoins riding the recovery wave.
When writing, the Pendle price was exchanging hands close to $4.26. It recorded an impressive 16.4% growth intraday and over 27% a week. This intraday rise marks the end of a three-month correction phase, putting the Pendle price back on track with growth. Let’s analyze the factors contributing to a trend shift and where the price could lead next.
Derivative Traders Triggered a Breakout in Pendle Price
The PENDLE price has noted a strong surge over the daily chart. It has broken out of an interesting pattern in the daily chart. Moreover, the breakout se
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