Maple Finance token has rebounded in the past few days, moving from a low of $0.3898 on August 8 to $0.5095, its highest point since August 11. This article explores why the SYRUP crypto price may be on the cusp of a strong bullish breakout.
SYRUP crypto price technical analysis
The daily timeframe chart shows that the SYRUP price bottomed at $0.0876 in April and then peaked at $0.6610 in June. It then pulled back and bottomed at $0.3898.
The coin has formed a falling wedge pattern, which comprises two descending and converging trendlines. Its upper side connects the highest swings since June, while the lower side links the lower side since June.
A falling wedge often leads to a bullish breakout and it has moved above the upper side. The coin also formed a double-bottom pattern at $0.3898.
Additionally, the wedge pattern was part of the bullish flag, which is made up of a vertical line and a descending channel. It has moved above the 100-day Exponential Moving Average (EMA).
Therefore, the most likely scenario is where the Maple Finance price continues rising as bulls target the important resistance level at $0.6600, up by 31% above the current level. A drop below the 100-day moving averages at $0.4320 will invalidate the bullish Maple forecast.
Potential catalysts for the Maple Finance
Maple Finance price has numerous catalysts that may push it higher in the long term.
First, the network is growing, with the total assets under management (AUM) soaring to over $3.1 billion, and is now bigger than BlackRock’s BUIDL asset.
The Blue Chip Secured Lending has added over $161 million in assets and is offering a net APY of 6.6%.
Further, the High Yield Secured Lending fund has over $514 million in assets and has an APY of 10.2%, while the Bitcoin Yield has $166 million.
Most of Maple’s growth has been from the syrupUSDC, whose assets have jumped to over $1 billion. Maple has recently expanded to Arbitrum, Solana, and Avalanche, a move that will boost its ecosystem growth.
Most importantly, it has integrated syrupUSDC across popular lending protocols like Euler, Morpho, Jupiter Lend, and Drift, powering institutional-grade yield strategies.
This growth makes Maple one of the fastest-growing players in the decentralized finance and real-world asset (RWA) tokenization industries.
More data shows that SYRUP was the most acquired coin by smart money investors. These investors bought tokens worth $1.28 million, a sign that they expect its price to keep soaring.
The same has happened among whales, who now hold over 3.13 million tokens. Additional data shows that the supply of SYRUP tokens on exchanges has plunged by 36% in the last 30 days to 205.2 million.
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