📍PENDLE – Whales accumulating, with some pressure to take profits

📌 In the past 24 hours, whales have net purchased over $2.6M (~513K PENDLE), further strengthening the upward momentum. The main driver lies in the USDe – Pendle – Aave yield loop, where users borrow USDe, deposit it into Pendle to earn a higher fixed yield than the borrowing cost. Soon, the sUSDe pool expansion with a limit of $100M in September will be a major catalyst.

📌 However, PENDLE reserves on the exchange have slightly increased – a signal suggesting that some cash flow may be preparing for short-term profit-taking. On the chart, the price still maintains an upward channel, but the RSI is starting to show bearish divergence, indicating that buying strength is gradually weakening.

📌 The $5.03 – $4.74 range will be a defensive point if the price adjusts. Conversely, decisively breaking through $5.27 will open up an opportunity to aim straight for $5.88, completing an additional upward move of ~12%. $PENDLE