Pendle (PENDLE) Price Prediction 2023-2025: Will PENDLE Hit $10 Soon?

Pendle [PENDLE] began the year with significant gains, peaking in April with a 600% increase. The price then retraced over the following months

Pendle [PENDLE] began the year with substantial gains, reaching a peak in April with a 600% increase. The price then corrected over the following months, reaching the 75% Fibonacci retracement level before recovering in August.

At press time, Pendle was trading at $5.3, showing a 355% gain year-to-date. Pendle is experiencing significant growth, revolutionizing yield optimization by tokenizing future yields and maximizing returns.

If the monthly candle closes bullishly above $6.3, the price could challenge its all-time high of $7.52 in December.

Pendle’s TVL continues uptrend

The coin’s TVL gradually climbed from February, reaching over $6 billion in June, indicating strong growth and high user adoption.

However, a sharp decline followed in July, decreasing the TVL to nearly $3 billion, reflecting possible market corrections or liquidity outflows.

Source: DeFillama

From August onwards, the TVL showed resilience, stabilizing around $3 billion before gradually recovering in October and November.

At the time of writing, Pendle’s TVL was $3.392 billion, highlighting renewed market confidence and increased participation in its ecosystem.

Price ignites fresh optimism

PENDLE’s four-hour chart showed price action consolidating above a strong support level at $5.00. A breakout could see a price target of $7.00, reflecting a 39.73% upside if the bullish momentum continues.

Source: TradingView

The price action remained range-bound, with the Alligator lines converging, indicating a lack of clear directional momentum for now.

Additionally, the MACD was slightly bearish, with the lines below the signal line, reflecting weak momentum.

However, the histogram showed declining bearish pressure, suggesting a possible reversal. Meanwhile, the stochastic RSI was near the oversold region at 33.87, indicating the price may be poised for a bounce.

Pendle rebounds following funding rate shift

The chart illustrates the relationship between Pendle’s price (yellow line) and the Open Interest-Weighted Funding Rate (green area) over time.

Source: Coinglass

Read Pendle’s [PENDLE] Price Prediction 2024-2025

In early November, the Funding Rate briefly turned negative, coinciding with a small price dip, indicating short-term bearish sentiment.

However, as the Funding Rate stabilized and turned positive, Pendle regained momentum, reflecting renewed confidence.