• Institutional wallet linked to Arca accumulated 2.183M PENDLE ($8.31M) over six days with no recorded sales.

  • PENDLE price rose 1.52% to $3.84; trading volume dropped 11.77% despite steady market cap growth.

  • MACD shows a weak bullish crossover; RSI at 50.91 reflects neutral momentum and ongoing market consolidation.

A wallet linked to the institution Arca has accumulated a notable amount of PENDLE tokens over the past week. On-chain data shows wallet address 0xaA3 withdrew 1.349 million PENDLE, valued at $5.38 million, directly from Binance. This transaction occurred recently and follows a consistent six-day accumulation pattern.

Significant Withdrawals Signal Steady Buying Activity

According to on chain data, over the last six days, the same wallet withdrew a total of 2.183 million PENDLE tokens. At current valuations, this amounts to approximately $8.31 million. The average price across these transactions sits at $3.81 per token.

https://twitter.com/spotonchain/status/1935879552758431932

As of now, the wallet holds an unrealized gain of about $100,000. The activity reflects continued accumulation without any recorded sales during the period. All transactions were sourced from Binance and occurred within a tight timeframe, showing focused execution. The wallet remains active with PENDLE as its primary token holding.

PENDLE Current Market Action Revealed

Tracking the ongoing price trend as of press, CoinMarketCap data indicates that PENDLE is trading at $3.84 after gaining 1.52% in the past 24 hours. The market cap stands at $625.89 million, showing a 1.53% increase. The 24-hour trading volume is $56.09 million, marking an 11.77% drop. Fully diluted valuation (FDV) is currently $1.08 billion, while the unlocked market cap is $974.56 million.

Source: CoinMarketCap

The total value locked (TVL) is $4.94 billion, and the market cap to TVL ratio is 0.1265. Over the past day, the price moved from $3.7894 to a peak near $3.95 before stabilizing. Trading volume remained consistent throughout the chart with moderate fluctuations. The price chart shows a recovery trend starting around 9:00 PM, pushing the price above $3.90 before minor pullbacks. At present, the price remains steady at around $3.84.

PENDLE Technical Analysis: What Do MACD and RSI Indicators Reveal?

As the price action continues, a technical analysis is valid to check the next market trend. According to a TradingView chart, the 4-hour chart shows the MACD line at 0.011, with the signal line slightly lower at -0.015. This forms a minor bullish crossover, indicating possible short-term upward momentum. The histogram currently reads positive, supporting this crossover with early confirmation of strength. However, momentum remains weak with low amplitude on the histogram bars.

Source: TradingView ( PENDLE/USD Chart)

The Relative Strength Index (RSI) stands at 50.91, while its average holds at 47.27. This value places PENDLE in a neutral zone. There is no sign of overbought or oversold conditions on the RSI. RSI movement has flattened in recent sessions, reflecting indecision in the market.

PENDLE trades near between support at $3.587 and resistance at $4.125. Price action remains within range and aligns with sideways movement on both indicators. The MACD crossover and neutral RSI level provide no extreme momentum. Both indicators reflect consolidation, with no clear signal for a strong breakout or breakdown at present levels.