Pendle Price Sees Major Reversal Amid Institutional Buying Spree

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Pendle Price Sees Major Reversal Amid Institutional Buying Spree - CoinGape

Quick Summary:

The Pendle price prolonged its consolidation from last as the broader market witnessed a surge in supply pressure after Bitcoin reverted from $70000 on Monday—the renewed selling pressure in pressing the Pendle coin against multi-month support with potential for bearish breakdown.

However, recent accumulations from prominent institutions signal a potential for reversal.

This altcoin has struggled against an overhead trendline serving as dynamic resistance, failing to capitalize on the market’s recovery in July.