Crypto Trading Experiment (PENDLE) Part II
Since my purchase the price of PENDLE had dropped several percent, regained almost 20 %, just to fall again. A double bottom pattern on a 4-hour chart can indicate a reversal.
My target price remains undermined.
Will I rebuy?
I will make an additional purchase, if I see a reversal-pattern confirmation. For me, that would mean, a price recovery above $0,28 + moving average correlation. No idea what I am saying? Ask in the comments and I will answer.
DO NOT just buy the bottom, because this might not be the actual bottom. But from the graph, it looks like it could be.
We will see in the coming days.
More about PENDLE?
PENDLE looks like a unique protocol with a good idea, but the founding team has yet to prove their value. It’s a project I’m keeping under my radar since it got listed on the exchange I use.
Won’t post any referrals, because all I want is to do is to educate.
Get to the point?
Pendle is the first protocol that enables the trading of tokenized future yield on an AMM system. We aim to allow holders of yield-generating assets to generate additional yield and to lock in future yield upfront, while offering traders direct exposure to future yield streams, without the need for underlying collateral.
I own PENDLE. I have bought PENDLE at $0,32 and $0,295. I will let you know how things turn out in the next few weeks!
Oh, this is not financial advice. Anything said is my non-exhaustive personal interpretation of available data at the time, and should not be construed as financial advice. Crypto and DeFi are risky, and you stand the risk of losing all or some of the money you put in.