Market Overview: Pendle/Bitcoin (PENDLEBTC) on 2026-01-13

Summary
• Price formed a bullish reversal pattern near key support at 2.31e-05.
• Momentum shifted upwards with RSI crossing into balanced territory.
• Volume spiked during the final 5-hour window, supporting the recent rally.
• Bollinger Bands showed a contraction earlier, followed by a breakout.
• Turnover increased by 50% in the last 3 hours, aligning with higher prices.

Pendle/Bitcoin (PENDLEBTC) opened at 2.348e-05 on 2026-01-12 at 12:00 ET, reached a high of 2.394e-05, a low of 2.311e-05, and closed at 2.379e-05 at 12:00 ET the next day. Total volume was 7,950.4, and turnover was 0.1885.

Structure & Formations

Price tested a key support level near 2.31e-05 and formed a bullish reversal pattern in the final candle before breaking above the prior high of 2.394e-05. The daily chart shows a clear upward trend, with the 50-period moving average acting as dynamic support. A bearish engulfing pattern appeared earlier in the morning but failed to hold.

Moving Averages

On the 5-minute chart, the price closed above both the 20- and 50-period moving averages, suggesting short-term bullish momentum. The 200-period daily moving average remains below current levels, indicating a broader uptrend.

MACD & RSI

The 12:00 close saw RSI at 58, suggesting balanced momentum without overbought or oversold conditions. MACD crossed into positive territory in the final 3 hours of the 24-hour period, aligning with the rally.

Bollinger Bands

Volatility contracted in the early morning hours, followed by a breakout above the upper Bollinger Band. The recent move suggests a potential continuation of upward price movement.

Volume & Turnover

Volume spiked by over 50% in the last 3 hours, coinciding with the price breakout. Turnover also increased sharply, confirming the strength of the move. No significant divergence between price and volume was observed.

Fibonacci Retracements

A key 61.8% Fibonacci retracement level was near 2.31e-05, which appears to have acted as a strong support. Price rebounded from this level and moved toward the 100% extension target.

The upward move appears to be driven by accumulation and short-term bullish sentiment. A continued rally above 2.394e-05 could test the next Fibonacci level near 2.42e-05. However, a pullback to test the 2.31e-05 level again may offer a high-probability entry point, but caution is warranted should volume fail to confirm further moves.