- PENDLE sits on the $2.00–$2.35 weekly support zone, maintaining stability while buyers aim for momentum toward $3.00 and higher resistance levels.
- Price action shows strong absorption at the support midpoint, indicating active buyer defense and potential for a sustained upward move toward $4.50.
- Arthur Hayes added 331,000 PENDLE tokens worth $814K, reinforcing market interest and aligning with technical support levels on the weekly chart.
PENDLE sits at a crucial point in the market as price action hovers near a long-standing weekly support area while fresh on-chain accumulation has drawn renewed attention. The current zone continues to shape expectations for traders watching the next directional move.
Weekly Support Holds as Market Watches the $2 Level
PENDLE at $2.82 remains positioned on the important $2.35–$2.00 weekly support area that traders have monitored for months. This zone has served as a recurring demand pocket, creating previous upward moves during periods of reduced momentum. Market participants now track whether buyers can maintain strength within that region.
The recent candles show steady defense from buyers as wicks appear near the midpoint of the support. These reactions signal continued interest in keeping the price above the lower boundary. A sustained hold would allow PENDLE to work toward the $3.00 area, which remains the first psychological checkpoint for sentiment.
Traders are also monitoring the $4.00–$4.50 region that has historically drawn price once momentum shifts. The compression in recent sessions forms the basis for expectations of a larger move if support continues to hold.
Potential for a Final Dip Remains Present
Although the structure retains its broader support, market observers note the possibility of another liquidity sweep. The broader pattern still reflects lower highs, which has kept the market cautious. A brief move toward $2.00 remains possible if buyers fail to maintain short-term strength.
Such a dip would not change the wider trend but could remove late entries. Price has shown similar behavior in earlier phases of the structure, where deeper tests formed the base of future rallies. Market watchers see this as a scenario that could emerge before any extended move.
This outlook keeps attention centered on the balance within the demand zone. A loss of this area could trigger a temporary shift before buyers regain positioning at a lower level.
Arthur Hayes Adds to His Position
Attention increased further after rocket100 shared on social media that Arthur Hayes accumulated 331,000 PENDLE at $2.82. The purchases, worth about $814,000, formed a fresh addition to his existing position. Nansen data showed 218,000 tokens bought in one session and another 113,000 acquired from Wintermute.
The accumulation drew interest due to Hayes’ activity in illiquid DeFi assets. Market viewers often track such moves for context on broader sentiment within the yield-based sector. His purchases aligned with ongoing discussions around PENDLE’s long-term support region.
This interaction between technical positioning and visible on-chain activity kept PENDLE in focus as market participants awaited confirmation of the next directional move.
