Pendle has finally broken down out of the channel to the downside. The token held on much longer than I thought it would. People are likely rotating these huge profits into safety (stables, eth, btc). A test of the golden fib would be our first area of inflection here. This could also just be a quick leveraged washout that goes right back into the channel. I believe we see a logical slow correction between 2.4-2.8$ here.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.