Market Overview for Pendle/Bitcoin (PENDLEBTC): 24-Hour Analysis

• Price declined from 2.764e-05 to 2.569e-05, forming bearish momentum on 15-minute chart.
• Volume surged during key declines, particularly around 16:00–17:00 ET, suggesting selling pressure.
• RSI and MACD likely signal oversold conditions, though indicator data is not available for confirmation.
• Key support appears at 2.566e-05, with a shallow recovery afterward.
• Volatility expanded during sharp declines, indicating heightened market anxiety.

Price and Volume Summary

Pendle/Bitcoin (PENDLEBTC) opened at 2.764e-05 on 2025-11-02 at 12:00 ET, touched a high of 2.764e-05, and closed at 2.569e-05 on 2025-11-03 at 12:00 ET. The low was 2.51e-05, marking a bearish 24-hour trend. Total volume amounted to 19,849.7, while notional turnover (volume × price) could be estimated at roughly $0.557 million.

The price action unfolded in three distinct phases: a consolidation around 2.76e-05, a sharp decline to 2.61e-05, and a secondary leg lower to near 2.51e-05. The most intense selling occurred during the 15:45–16:45 ET window, when price dropped nearly 3,300 basis points, and volume spiked to over 7,252.2.

Structure and Candlestick Patterns

The candlestick structure reveals bearish dominance, with several long-bodied red candles and small-bodied bearish signals. A key bearish engulfing pattern formed at 15:45–16:00 ET, as the candle opened at 2.566e-05 and closed near 2.51e-05.

Following this, a series of bearish hammers and spinning tops indicated indecision and potential exhaustion of the short-term downtrend. A small bullish candle formed at 16:45–17:00 ET, closing at 2.569e-05, which may signal a possible short-term reversal if volume confirms strength.

Support appears to be forming in the 2.566e-05 to 2.573e-05 range, with resistance likely retesting the 2.601e-05 level.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are trending lower, with the price currently below both, indicating a bearish bias. The 20-period MA crossed below the 50-period MA during the early decline, a bearish crossover.

On the daily chart, the 50-period MA would have crossed below the 100-period and 200-period MAs, reinforcing the broader downtrend. Traders may watch for a retest of these lines to determine whether the bearish momentum can be contained or reversed.

Bollinger Bands and Volatility

Volatility expanded sharply during the 15:45–16:45 ET decline, with the lower Bollinger Band contracting just before the sharp move lower. Price gapped below the lower band during this period, signaling extreme bearish pressure.

Following this, the bands widened again, with price finding support above the lower band. A possible retest of the 2.566e-05 level could determine whether volatility continues to expand or begins to contract into a consolidation phase.

Volume and Turnover Divergences

Volume spiked significantly during the 15:45–16:45 ET window, coinciding with the sharpest price decline. This suggests strong bearish conviction. However, a divergence appears in the 17:00–17:15 ET window, where the price showed a modest recovery but volume remained low, indicating weak follow-through buying.

This divergence may signal caution for further short-term bearish continuation, as buyers appear hesitant to step in despite the recent low.

Fibonacci Retracements

Applying Fibonacci retracements to the recent 15-minute decline from 2.764e-05 to 2.51e-05, the 38.2% retracement level is near 2.586e-05, and the 61.8% level is near 2.653e-05.

Price is currently near the 2.569e-05 level, just above the 38.2% retracement, suggesting that a pullback to this level could be a potential reversal point.

Backtest Hypothesis

To evaluate potential strategies for PENDLEBTC, further technical-indicator data is required, particularly RSI and moving averages. Once the correct ticker symbol and exchange are confirmed (e.g., PENDLE/USDT on Binance), a backtest can be conducted to assess the performance of a 5-day-holding strategy based on RSI thresholds and moving average crossovers from 2022-01-01 to 2025-11-03.

This data will also allow for the evaluation of trade signals and risk-adjusted returns, providing a clearer picture of the market’s cyclical behavior.

Forward-Looking View and Risk Caveat

Looking ahead, a short-term bounce to the 2.586e-05 level appears possible, especially if volume confirms strength. However, given the extended bearish move and lack of follow-through buying, caution is warranted. A retest of the 2.51e-05 low could trigger further selling unless a strong bullish reversal pattern forms.

Investors should monitor the 20-period and 50-period moving averages for potential crossovers and keep an eye on volume during any recovery attempts.