Ethereum governance, and the downfall of celeb tokens: Finance Redefined
- Galaxy report on Ethereum governance: Reveals that Ethereum's decentralized governance relies on off-chain voting involving various stakeholders like client teams, validators, the Ethereum Foundation, and developers.
- Celebrity tokens decline: Most celebrity-backed tokens, except for Iggy Azalea's MOTHER token, have dropped over 60% since launch, raising concerns about potential price dumps.
- Arthur Hayes unstakes Pendle tokens: BitMEX co-founder Arthur Hayes unstaked $9.41 million worth of Pendle tokens, leading to worries about a possible price dump.
- Nocturne protocol shuts down: Vitalik Buterin-backed Nocturne Labs, aiming to introduce privacy features to Ethereum, announced its closure without explanation.
- DeFi market overview: DeFi's top 100 tokens had a bullish week with most in the green on weekly charts, while the total value locked in DeFi protocols remained above $105 billion.
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Technical Analysis for PENDLE
Technical Sentiment Analysis for Pendle (PENDLE) As of , Pendle (PENDLE) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 5 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for PENDLE stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, PENDLE is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Pendle (PENDLE) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.368 | 0.699 | 1.005 | 1.336 | 1.642 | 1.973 | 2.279 |
| Fibonacci | 0.699 | 0.942 | 1.093 | 1.336 | 1.579 | 1.73 | 1.973 |
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