PENDLE Maintains Weekly Support as Liquidity Grows Around $2.10

Current Price Action: PENDLE is trading around $2.10, showing intraday weakness while remaining within a bullish pennant structure, indicating potential for future upward movement despite short-term market fluctuations.

Liquidity and Support Levels: There is notable liquidity below the $2.00 support level, suggesting that a brief dip below this point could occur before a potential recovery, as markets often seek liquidity before resuming broader trends.

Volume Trends: Trading volume has been declining during the consolidation phase, which is typical for pennant formations, indicating that the current price tightening reflects stored momentum rather than weakness.

Market Sentiment: Recent sentiment has softened due to Polychain Capital's exit from its PENDLE position, but the asset maintains strong fundamentals, including a significant total value locked, framing recent volatility as sentiment-driven within a resilient structure.