Market Overview for Pendle/Bitcoin (PENDLEBTC): 2025-10-13

• Pendle/Bitcoin (PENDLEBTC) advanced 0.33% over 24 hours, closing at 0.0000327 after forming a bullish engulfing pattern on 2025-10-12 at 16:00 ET.
• Volatility increased late in the session, with Bollinger Bands widening and volume spiking above 1000 units in late-night hours.
• RSI held near neutral territory, suggesting a potential consolidation phase ahead of further directional movement.
• Key support appears near 0.0000325, while resistance tests are expected at 0.0000340 as the 20-period MA diverges from the 50-period MA.
• A divergence between price gains and volume suggests caution is warranted ahead of the next 24-hour period.

Opening Summary and 24-Hour Performance

Pendle/Bitcoin (PENDLEBTC) opened at 0.00003179 on 2025-10-12 at 12:00 ET, reached a high of 0.00003409, and closed at 0.00003270 on 2025-10-13 at 12:00 ET. Total volume over the 24-hour window was 12,768.1, and total turnover amounted to $419.74. The pair showed a modest bullish bias, with a clear reversal structure forming mid-session.

Structure & Formations

The session began with a bearish tone, but a key reversal structure emerged with a bullish engulfing pattern at 16:00 ET. This engulfing candle, followed by a continuation into higher ground, suggests a shift in short-term sentiment. Subsequent indecision was seen in the late evening hours with several doji and consolidation candles forming near 0.00003266. These indicate a possible short-term equilibrium before a breakout or breakdown may occur.

Key Support and Resistance Levels

Immediate support is seen at 0.00003250, which was tested several times during the session. Resistance appears at 0.00003370, with a broader ceiling at 0.00003409. A break above 0.00003409 could signal renewed bullish momentum, particularly if volume confirms the move.

Moving Averages

The 20-period and 50-period moving averages on the 15-minute chart are diverging, with price closing above the 20-period MA at 0.00003270. This suggests that short-term momentum may continue to favor the bulls, particularly if the 50-period MA turns upward. On the daily chart, the 50-period MA at 0.00003240 is acting as a psychological floor, while the 200-period MA at 0.00003170 is a deeper support level.

MACD & RSI

The MACD crossed into positive territory late in the session, indicating a strengthening of the bullish momentum. RSI remains in the 50–60 range, suggesting that the pair is not yet overbought but is building short-term momentum. If RSI continues to climb above 60 and volume remains strong, a breakout above 0.00003370 may be in play.

Bollinger Bands

Volatility expanded in the final hours of the session, with the Bollinger Bands widening as price moved toward the upper band. This could signal a potential exhaustion of the bullish momentum or a breakout continuation. A retest of the lower band at 0.00003230 may be expected in the next 24 hours if the market enters consolidation mode.

Volume & Turnover

Volume spiked significantly at 20:00 ET and again at 22:30 ET, reaching levels above 1100 units. This coincided with price advances and suggests strong participation from market participants. However, the lack of a corresponding surge in turnover (notional value) indicates that buyers may not be fully committed, a potential warning sign for those expecting a strong continuation.

Fibonacci Retracements

Fibonacci levels drawn from the recent 0.00003179–0.00003409 swing show the 38.2% retracement at 0.00003275 and the 61.8% at 0.00003316. Price closed near the 38.2% level, suggesting a potential bounce or continuation into 0.00003316 if bullish sentiment remains intact.

Backtest Hypothesis

To accurately test a 15-minute Bullish Engulfing strategy on the PENDLEBTC pair since 2022, precise timestamps of each engulfing pattern occurrence are necessary. Given the presence of a clear bullish engulfing pattern on 2025-10-12 at 16:00 ET, backtest validation could begin with this event. However, without a full list of such patterns over the past three years, results may be skewed. If a simplified daily approximation is acceptable, the strategy can be automated using daily candlestick data. Confirmation of either approach is required to proceed with backtesting.

Forward-Looking View and Risk Note

Looking ahead, PENDLEBTC may test the 0.00003370–0.00003409 resistance cluster, with volume and RSI confirming the strength of any breakout. However, traders should remain cautious of potential pullbacks if volume fails to support price action. A decline below 0.00003250 could signal renewed bearish sentiment and trigger a retest of the 0.00003179 level.