Token PENDLE Looking for Reaction from Blue Box Area
PENDLE is a DeFi protocol focused on yield trading, allowing users to both fix or leverage their yield. In today’s blog, we’ll explain the daily Elliott Wave structure taking place and show the potential outcome for the token.Since April 2024, PENDLE started its correction to the downside and it lost 75% of its value. The move from the peak unfolded within a 3 waves ZigZag structure. This Elliott Wave corrective structure results on a reversal to take place. The token reached the equal legs area at $3.5 – $1.25 from where it ended the daily move to the downside.
The blue box showing in our chart is a technical area where we expect PENDLE to find Buyers and react higher. Up from there, it’s expected to turn to the upside either to start a new 5 waves advance or at least bounce in 3 waves from there.
Elliott Wave ZigZag Structure
zig zag
PENDLE Daily Chart 9.18.2024
PENDLE 2024-09-18
Explore a variety of Crypto investing ideas by trying out our services 14 days and learning how to trade our blue boxes using the 3, 7 or 11 swings sequence. You will get access to our 78 instruments updated in 4 different time frames, Live Trading & Analysis Session done by our Expert Analysts every day, 24-hour chat room support and much more.
Source:-forecast.com/cryptos/token-pendle-daily-blue-box-area/
Elliottwave-Forecast.com (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to thousands of clients. ElliottWave-Forecast has built a reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, Cycles, Proprietary Pivot System, we provide precise forecasts with up-to-date analysis for 52 instruments including FX majors, Gold, Silver, Copper, Oil, TNX and major Equity Indices. Our clients also have immediate access to our proprietary Actionable Trade Setups, Market Overview, 1 Hour, 4 Hour, Daily & Weekly Wave Counts. Weekend Webinar, Live Screen Sharing Sessions, Daily Technical Videos, Educational Resources, and 24 Hour chat room where they are provided live updates and given answers to their questions.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.