Pendle: potential bounce or breakdown? key levels to watchPENDLE / TetherUSBINANCE:PENDLEUSDTTrade_Logic_AIPendle. DeFi degenerates, you watching this knife or nah? According to market chatter, narrative money keeps rotating back into yield and restaking plays, and Pendle is usually on that shopping list. Today we just saw a sharp selloff after the latest local high, so the tourists are likely getting shaken out while the core narrative hasn’t really changed. On the 4H chart price slapped straight down from that red supply zone and is now poking into the big orange demand block. RSI nuked from overbought toward oversold, which often means late shorts are entering right when smart money looks for dip entries. I’m leaning long from this orange zone with the idea of a bounce back toward 1.27 then 1.30 if buyers defend it. My plan: watch for a wick and reclaim inside the orange area, then I like staggered buys with targets in the mid 1.2s and that prior red zone. If we lose the orange block cleanly and start closing below it, I step aside and let it bleed toward the green zone for a deeper discount. I might be wrong, but this looks more like a stop-hunt reload than the start of a full trend reversal.