$PENDLE This 15m move was pulled quite decisively—volume is at 2.44x, and the Wave Volatility Z value is 4.02. It directly broke through the upper edge of the past ~20 5m bars.

What’s interesting, though, is the OI: on both the 15m and 1h timeframes it’s slightly down, yet the nominal value actually rose by 1.4%+. Price is up while positions are decreasing—classic short-covering pushing the move forward; it’s not fresh long capital entering to build positions.

Active trade vs. expected is +16.5%, buy-sell ratio is 1.40, and the funding rate is still stuck in the recent high-percentile range. Short-term sentiment is a bit overheated—if you chase the price higher, be careful about getting “harvested” by a quick reversal.

Across the whole pool, the abnormal percentile is 90.7%. The nominal change ranks at #35, and depth is sufficient. In the past 24h, turnover is 43.9M— the market cap isn’t that large. A single big bullish candle or a single big bearish candle wouldn’t be hard.

First, see whether it can hold above this upper edge. If it can’t, then it’s just a failed breakout and a fill of the gap—done.