Pendle drops more than 10% after stablecoin volumes surge and new infrastructure token offering

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Pendle drops 10.3% today to $2.369

Highlights

Pendle enables 34.8% APY on tokenized shares of Partners Group Next Generation Infrastructure fund, expanding access to private infrastructure investments.
Pendle's stablecoin pool trading volume surpassed $6 billion year-to-date and USDC vault assets exceeded $75 million, making it among Ethereum's largest.
PENDLE/USD faces short-term selling pressure with expected consolidation between $2.072 and $2.5555, as technical momentum remains broadly bullish.

Investor inflows diversify as tokenized fund access and SEC rules converge

Pendle recently announced that users can earn a 34.8% APY on tokenized shares of Partners Group's Next Generation Infrastructure fund, broadening investor access to private infrastructure. The protocol reported year-to-date trading volumes in its stablecoin pools exceeding $6 billion, and its USDC vault surpassed $75 million in total value locked, establishing it as one of the largest on Ethereum. Regulatory clarifications from the SEC regarding token buybacks have also been noted, with Pendle tracked for compliance in revenue distribution models. Over the past month, the protocol showed a substantial increase in market activity, though price action has remained under broader selling pressure.

Anton Kharitonov, expert at Traders Union, notes that PENDLE failed to hold short-term support amid clear evidence of strong selling pressure. He believes the token’s price drop diverges from its improving fundamentals and fails to inspire technical confidence, especially with price closing below the 20-day average. Kharitonov also points out that despite impressive stablecoin trading volumes and vault growth, the regulatory environment poses ongoing risks — especially given SEC scrutiny around buybacks. He warns that bullish momentum indicators are now undermined by unstable price action and high volatility, adding that further downside is possible if $2.32 breaks. "This type of technical-fundamental disconnect often signals increased risk — so I remain defensive and advise against chasing the bounce here."

Viktoras Karapetjanc, expert at Traders Union, sees Pendle’s fundamentals as robust and its market structure intact despite the pullback. He highlights surging volumes, new access to tokenized infrastructure, and significant USDC vault inflows as proof of strong platform adoption. Karapetjanc is confident the sideways action is temporary and presents a strategic entry opportunity for bullish continuation. "With these on-chain milestones and demand trends, I expect further growth — this market offers multiple setups for active investors."

Jainam Mehta, market strategist, interprets the volatility as likely consolidation within a well-defined technical channel. He observes that the price staying above the 50-day and 200-day averages keeps long-term prospects constructive. Mehta notes that divergence between indicators and recent price action could set up for a breakout once resistance at $2.3757 is cleared. "Tactical traders might anticipate a move toward $2.56 if short-term momentum regains alignment with fundamentals."

Short-term weakness persists despite strong momentum and higher timeframe support

PENDLE/USD is trading below its 20-day moving average at $2.3757, indicating short-term selling pressure, but remains well above the 50-day ($1.935) and 200-day ($1.5532) levels, which signals that medium- and long-term technical strength persists. Initial support is positioned at the week’s low of $2.32, with resistance at the 20-day average of $2.3757. Additional support is provided by the Ichimoku Kijun at $2.276, just below the current price. Momentum indicators remain strongly bullish overall: the MACD and ADX both continue to signal further buying potential, while the RSI is elevated at 67.29, not yet overbought. The Stochastic RSI and CCI reflect ongoing buying momentum, and Bull/Bear Power is positive at 0.2017, confirming buyers’ control intraday. However, today’s $0.272 decline and 10.3% drop, alongside 12.75% volatility, highlights a conflict between strong momentum readings and the latest session’s weak price action.

Earlier, analysts noted that Pendle was experiencing increased downside risk amid persistent selling pressure and weakening momentum signals. The current analysis adds a new dimension by highlighting that, despite short-term price weakness, sustained technical strength and strong momentum readings now point to a high probability of consolidation, making the $2.32 support a critical level to monitor for any renewed directional move.

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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