Pendle is falling today: what traders are watching (December 23)

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Pendle Slips 10.18% Today to $1.70

Highlights

Pendle announces that PENDLE tokens can now be purchased via credit card on the Bitget crypto exchange, expanding user accessibility options.
Bitget's update emphasizes enhanced transaction security and strong reserves for PENDLE trading, aiming to attract cautious investors.
No other factual corporate actions or material market events concerning Pendle were reported for the period.

Bitget card purchase option boosts access as trading actions remain subdued

Recent Pendle news highlights guidance on purchasing PENDLE tokens using a credit card through the Bitget crypto exchange, underscoring convenient user access, transaction security, and robust reserves. This update focuses on entry options and trading environment for the asset. No further factual corporate actions were reported for the period.

Anton Kharitonov, expert at Traders Union, sees Pendle in a sustained downtrend with strong bearish momentum across all key technical indicators. He highlights the clear lack of buyer interest, as both news and fundamentals provide no immediate catalysts for a reversal. The expert is critical of the asset’s persistent weakness below its major moving averages and the failure to defend near-term support. He warns that the token’s ease of purchase via Bitget does little to improve sentiment or stem outflows, given overwhelming selling pressure. "With downside exhaustion present but no bottoming signals, I would remain defensive and avoid fresh exposure to PENDLE until evidence of accumulation emerges," Kharitonov says.

Viktoras Karapetjanc, expert at Traders Union, focuses on the progressive adoption highlighted by Bitget’s credit card integration for Pendle purchases. He views this move as a sign of growing accessibility and infrastructure, which sets the stage for potential future growth. The analyst is confident that improved user access and secure trading environments help develop a bullish structure in the longer term, even as short-term volatility persists. He expects market participants to find fresh setups when the negative momentum fades. "Convenient entry routes and platform development support the case for further inflows once overall sentiment improves," Karapetjanc says.

Jainam Mehta, market strategist, notes that Pendle remains under clear technical pressure and sits near critical support at $1.698. He observes that the absence of bullish divergences limits upside potential in the near term. However, Mehta highlights a possible tactical opportunity if sellers exhaust themselves, with a breakout above $2.3075 offering a quick reversal setup. "Traders should stay risk-aware here but watch for intraday swings, as rapid shifts in sentiment could fuel a sharp, short-lived bounce," he says.

Bearish momentum accelerates as intraday volatility confirms downside exhaustion

Momentum indicators confirm a bearish environment, with both MACD and ADX suggesting a strong downtrend. RSI, Stoch RSI, and CCI reside in or near oversold territory, highlighting increasing downside exhaustion while BBP confirms sellers dominate intraday action; the Awesome Oscillator also supports the established downtrend. Pendle is down 10.18% on the day, slipping $0.193 to $1.702 with no significant gap between the previous close and today's open. The current price sits near the daily low of the $1.698–$1.832 range, reflecting high intraday volatility and continued pressure after the open. This intraday weakness aligns with the negative momentum from major indicators, with no major divergences present.

Previously it was reported that PENDLE continued to decline sharply, with price action remaining well below key moving averages as bearish indicators such as MACD, ADX, and a deeply oversold RSI reinforced persistent downside pressure. With the nearest resistance at the daily Ichimoku Kijun and support seen just below the session low, volatility and negative momentum were expected to limit rebound prospects in the short term.

Source of Data: PENDLE Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

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