PENDLE eyes 116% breakout after HyperEVM launch – UNLESS…
Main Idea
PENDLE's price surged 38% in a week due to HyperEVM integration, record staking, and rising TVL, but whale deposits to Binance introduced uncertainty, making the $7.50 resistance critical for short-term price direction.
Key Points
1. PENDLE rose 38% in a week with trading volume up 414%, but August 11 token release could spark profit-taking.
2. HyperEVM integration with Ethena's launch and $100M capped pools for sUSDe offered fixed yields of 8.8% and LP yields of 378%.
3. PENDLE broke out from a symmetrical wedge pattern, with a potential 116% rally if it holds above $5, but $7.50 resistance is a key hurdle.
4. Pendle's DeFi profile strengthened with $307M staked (35.69% of market cap), $8B TVL, and $5.15B DEX volume in the last month.
5. Whale activity, including a multi-sig wallet depositing 900K tokens ($4.65M) to Binance, raised profit-taking concerns despite bullish fundamentals.
Description
PENDLE surged 38% in a week but sell-off after this rise could hinder immediate continuation.
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