Pendle Price Eyes $5 Rally as Major Support Holds Against Whale Sell-Off

Since last weekend, the cryptocurrency market has showcased a consolidation trend as digital assets try to stabilize from the recent sell-off. Amid the sideways action, the market sentiment saw a slight uptick on Monday as Bitcoin jumped 4% to revisit $58200. The altcoin market is capitalizing on the reduced supply pressure to establish a local bottom. This phenomenon is evident in the Pendle price, as it seeks support at a multi-month ascending trendline for a potential rebound.