#大户持仓变化 PENDLE Spot Price Trend Observation | 20251216 23:00 UTC

The recent performance of PENDLE has been quite interesting—down 4.56% in 24 hours, with signals from technical and fundamental aspects conflicting, and whale activity quite active.

First, on the technical side. The MACD just crossed above the signal line, and the histogram has turned positive, indicating a bullish signal for a while. The price is also pushing towards the upper band of the Bollinger Bands, showing signs of rebounding from the 2.036 level. But the problem is, the 25-hour moving average is at 2.016, and the 99-hour moving average is at 2.098, both acting as resistance, causing some congestion.

On the ecosystem front, there are some bright spots. PENDLE is expanding its yield infrastructure to Solana and has integrated with Chainlink CCIP, now assets like sUSDe can also earn fixed yields. This is their signature approach—breaking assets into principal tokens and yield tokens, allowing investors to implement various yield strategies. The total value of locked liquidity in staking is also increasing.

However, whale activity is a bit troublesome. Polychain Capital recently sold off 4.114 million PENDLE tokens in one go, exiting at a loss. This sale has caused nine consecutive days of selling pressure, which hasn't helped the price. Additionally, both the daily and four-hour charts are showing a pattern of lower highs and lower lows, continuing to decline after breaking out of the recent consolidation zone.

Community opinions are also divided. Some see a mid-term buying opportunity, but more are pointing out how fierce the bearish trend is and how much selling pressure whales have added. In the short term, this tug-of-war is likely to continue.