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

• PENDLEBTC traded lower with a 1.44% decline, closing below key support at $0.00003305 after bearish reversal patterns.
• Momentum eased on RSI and MACD, hinting at a short-term oversold condition but without strong reversal cues.
• Volatility expanded during the Asian session, with a sharp drop in price and divergent volume-turnover patterns.
• Bollinger Bands showed a moderate contraction in the early ET hours, followed by a break below the lower band.
• A 61.8% Fibonacci retracement level near $0.00003162 could act as a near-term support target ahead of $0.00003120.

The 24-hour session for Pendle/Bitcoin (PENDLEBTC) saw the pair open at $0.00003298 on 2025-10-13 at 12:00 ET and close at $0.00003171 on 2025-10-14 at 12:00 ET, with a high of $0.00003384 and a low of $0.00003110. Total trading volume reached 125,457.6 units, and turnover amounted to $4.06 million. The price action showed a bearish trend, particularly in the early hours of the Asian session, where a sharp decline occurred amid declining volume, suggesting a potential exhaustion of bullish momentum.

Structural analysis highlighted key resistance at $0.00003305 and support at $0.00003162. A bearish engulfing pattern formed on 2025-10-14 at 04:00 ET, signaling a potential short-term reversal. The 15-minute chart showed the price closing below the 20-period and 50-period moving averages, reinforcing the bearish bias. On the daily timeframe, the 50-period SMA was also crossed below during the session, suggesting a widening downtrend.

The MACD histogram contracted in the last 6 hours of the session, indicating fading momentum. The RSI hit a 15-minute low of 28, entering oversold territory, but without a strong rebound, indicating a lack of follow-through buying. Volatility, as measured by the Bollinger Bands, expanded in the pre-market hours, with the price breaching the lower band, suggesting heightened bearish pressure. However, the narrowing of the bands during the overnight hours indicated a potential period of consolidation prior to the break.

Volume was unevenly distributed, with a spike of 86,737.2 units during the 00:00–00:15 ET timeframe, coinciding with a sharp price drop. However, subsequent volume failed to confirm the bearish move, raising questions about the sustainability of the trend. Notional turnover also spiked during this period, but the lack of volume support in the subsequent hours suggests traders may be taking profits or tightening stop-loss levels.

Fibonacci retracement levels showed the current price hovering near the 61.8% level of the recent high-to-low move, offering a potential temporary support. A break below $0.00003162 could target $0.00003120, which is a prior psychological level and the 78.6% retracement. Traders may watch for a bullish rejection here or a continuation break.

The bearish engulfing pattern observed on the 15-minute chart is the core formation used in the backtesting strategy. This pattern typically signals a reversal of an uptrend and is used as an entry trigger for a short position. A backtest would assess its effectiveness in a bearish context, particularly when the pattern appears after a defined uptrend and is confirmed by a close below the engulfing candle’s low. This approach is consistent with the technical signals observed in the most recent session, including the MACD divergence and RSI oversold readings.