PENDLE forms a tightening structure as traders watch the symmetrical triangle for a breakout signal on the 3-hour chart. Short-term pressure increases with a price drop to $2.12 and rising volume confirming active seller participation. Strong TVL metrics contrast with near-term weakness, giving the token a broader foundation during market compression.
PENDLE trades through a volatile stretch as tightening chart structure and expanding sell-side activity shape expectations for the next directional move within a weakening short-term trend.
Compression Builds Inside Symmetrical Triangle Formation
PENDLE shows compressive behavior on the 3-hour chart as price narrows between higher lows and lower highs. The pattern reflects tightening conditions that usually precede a decisive breakout. The asset moves steadily toward the apex, limiting room for sideways action.
Ali (@ali_charts) notes that price action coils within a symmetrical triangle that formed after the sharp decline on November 14. Buyers stepped in quickly after that drop, establishing a firm higher-low progression. This steady base suggests that demand continues to show presence even as volatility compresses.
Sellers have been holding the $2.45–$2.50 region, keeping the upper boundary intact. However, each rejection shows reduced force as downward wicks shorten. This behavior often signals reduced pressure and suggests that market structure is shifting while traders prepare for a catalyst-driven break.
Short-Term Decline Reflects Active Sell-Side Participation
PENDLE trades at $2.12 after dropping 11.39% through the past 24 hours. The decline followed a failed attempt to reclaim the $2.35–$2.40 resistance range. Once sellers reclaimed control, price shifted into a cascading decline with repeated lower prints.
Volume rose 17.74% to $61.42M during the drop. Rising activity in a downtrend usually suggests active selling rather than passive drift. This aligns with the steady red structure on the 24-hour chart, showing that recent pressure comes from purposeful market repositioning.
Despite the pullback, PENDLE’s market cap remains $350.8M, with unlocked market cap at $544M and FDV at $598M. The valuation gap indicates supply expansion potential. Additionally, the market cap/TVL ratio of 0.076 remains low relative to its $4.6B TVL, showing substantial capital within the protocol.
Support Levels and Structural Signals Guide Market Expectations
The price as of the time of writing trades near the $2.10 support region, which previously served as a consolidation floor. If the level holds, it may provide a temporary base before the next volatility event. A break below it would expose the psychological $2.00 zone.
Holder count remains steady at 153.32K users. This firm base reflects consistent engagement even during short-term downside periods. Market structure remains tethered to whether buyers defend current levels or allow further retracement.
PENDLE’s strong TVL performance, including the major milestone noted in the accompanying update, adds broader support despite the correction. With the symmetrical triangle nearing its apex, traders now focus on which direction the breakout candle takes.