Market Overview: Pendle/Bitcoin Faces Rejection at 2.18e-05 Amid Weak Momentum

Generated by AI AgentAinvest Crypto Technical RadarReviewed byAInvest News Editorial Team
Thursday, Jan 1, 2026 7:56 pm ET1min read
BTC
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Summary
• Pendle/Bitcoin (PENDLEBTC) consolidates near 2.155e-05, with bearish pressure visible late in the 24-hour window.
• Price failed to hold above 2.17e-05, triggering a pullback amid mixed volume signals and a lack of strong follow-through.
• MACD divergence and a bearish engulfing pattern near 2.18e-05 suggest caution ahead, with key support at 2.14e-05.

Market Overview

Pendle/Bitcoin (PENDLEBTC) opened at 2.153e-05 on 2025-12-31 17:00 ET, reached a high of 2.226e-05, and a low of 2.121e-05, closing at 2.226e-05 on 2026-01-01 12:00 ET. Total volume for the 24-hour period was 13,896.3, with a notional turnover of approximately $0.302.

Structure & Formations

Price tested the 2.18e-05 to 2.226e-05 range repeatedly, with a bearish engulfing pattern forming near 2.18e-05 after a bullish push. A key support zone appears around 2.14e-05–2.15e-05, where price found refuge after a sharp decline. The 61.8% Fibonacci retracement level of the recent upswing lies near 2.16e-05, which could act as a pivot point.

Moving Averages

Short-term 20/50-period moving averages on the 5-minute chart are currently bearish, crossing below key price levels. On the daily chart, the 50-period MA appears to be aligning with the 2.16e-05 level, suggesting potential support for the pair.

Momentum and Volatility

RSI oscillated between overbought and neutral territory, peaking at 68 before retreating, indicating weakening momentum. MACD showed a bearish crossover late in the session, with negative divergence. Bollinger Bands are expanding, reflecting increased volatility, and prices are currently near the upper band, signaling exhaustion in the bullish move.

Volume and Turnover

Volume surged around the 2.226e-05 high and again near the 2.21e-05 consolidation zone, suggesting attempts to hold higher ground. However, the pullback to 2.14e-05 occurred with minimal volume, indicating a lack of conviction in the bearish move. Turnover appears to confirm volume surges, with a high of $0.011 at 05:15 ET.

Looking ahead, a break below 2.14e-05 could trigger a deeper correction toward 2.12e-05, while a retest of the 2.226e-05 high could find renewed resistance. Investors should remain cautious as volatility remains elevated, with mixed signals in volume and momentum indicators.