PENDLE Technical Analysis Feb 1

PENDLE is stuck just above $1.4540, a strong support zone at the $1.57 level, and RSI at 32.58 is giving an oversold signal; while carrying recovery potential, the bearish MACD and position below EMA keep the downside scenario alive.

Current Market Situation

PENDLE price is trading at the $1.57 level and stayed in the $1.54-$1.67 range with a 1.94% decline over the last 24 hours. Volume is at a moderate $46.16M level, with the overall trend downward. RSI at 32.58 is near the oversold zone, while MACD shows a negative histogram confirming bearish momentum. Price is trading below EMA20 ($1.92) and other short-term moving averages; the Supertrend indicator is giving a bearish signal and the $2.11 resistance level is prominent. In multi-timeframe (MTF) analysis, 10 strong levels were identified across 1D, 3D, and 1W charts: 1 support/2 resistances on 1D, 1S/1R on 3D, and 3S/4R balance on 1W. Critical support at $1.4540 (strength score 79/100), resistances at $1.7697 (66/100) and $2.7722 (66/100). This structure requires traders to be prepared for both directions; oversold conditions may pave the way for a bullish flip, while low-volume declines may signal bearish continuation.

Scenario 1: Upside Scenario

How Does This Scenario Unfold?

For the upside scenario, a clear break above the $1.7697 resistance is essential first; if confirmed with a high-volume candle close, momentum shift begins. Positive divergence on RSI (if RSI forms a higher bottom while price makes a new low) and MACD histogram approaching zero become early warning signals. Supertrend turning bullish and breaking above EMA20 strengthens the short-term trend reversal. Volume increase is mandatory; exceeding the last 24 hours’ $46M indicates buyers entering. Holding 1W supports in MTF (around $1.4540) preserves the long-term bullish structure. Stability or rise in BTC may trigger an altcoin rally. In this scenario, invalidation is a close below $1.4540 – if this level breaks, bullish expectation is invalidated.

Target Levels

First target $2.7722 (strength score 31), if broken, next Fibonacci extension levels point to the $3.20-$3.50 band. Risk/reward ratio from current levels is around 1:2.5 ($1.57 to $2.77). More aggressive targets could reach $4.00+ based on 1W MTF resistances, but volume confirmation is required. Traders should manage risk with partial profit-taking at each target.

Scenario 2: Downside Scenario

Risk Factors

The downside scenario is triggered by a high-volume break below the $1.4540 support; if this level (79/100 strength) is violated, cascading sales begin. MACD’s more negative histogram and RSI dropping below 30 reinforce momentum. Continuing below EMAs sustains the short-term bearish structure; if Supertrend remains bearish, even the $2.11 resistance won’t be tested. Decreasing volume or downward BTC movement increases correlation risk in altcoins. In MTF, if the 1W 3 support/4 resistance balance breaks (especially 3D support break), long-term decline begins. In this scenario, invalidation is a close above $1.7697 – signaling a bullish flip.

Protection Levels

First protection below $1.4540, target $0.3875 (strength score 21); this represents a major decline with R/R 1:3+. Intermediate levels from MTF supports: $1.20-$1.00 band, then $0.80. Traders should position stop-losses below $1.4540 for protection; watch for liquidity hunts in panic selling.

Which Scenario to Watch?

Decision point between $1.4540 support and $1.7697 resistance; high-volume breaks are key for confirmation. RSI divergence, MACD crossover, and Supertrend flips give early signals. Daily/4H closes are critical – don’t rush, wait against false breakouts. Volume profile: $50M+ bullish for upside, low volume signals bearish continuation. Monitor BTC movements; overall market sentiment (fear/greed index) also helps. In both scenarios, invalidation levels are clear: below $1.4540 for bull, above $1.7697 for bear.

Bitcoin Correlation

Altcoins like PENDLE have high correlation to BTC (%0.85+); BTC at $77,131 level in downtrend with Supertrend bearish. If BTC loses $75,760 support, PENDLE’s $1.4540 break accelerates – general pressure increases on altcoins. Conversely, if BTC breaks above $78,793 resistance (opening to $81,807), PENDLE upside scenario strengthens. Rising BTC dominance reduces alt outflows; traders should closely track BTC supports ($72,919, $64,655). PENDLE needs a volume explosion for independent movement, otherwise stays in BTC’s shadow.

Conclusion and Monitoring Notes

PENDLE at critical juncture: both scenarios possible from $1.57, traders should monitor levels and indicator confirmations. Daily monitoring: $1.4540 (support), $1.7697 (resistance), RSI/MACD divergences. If weekly MTF balance breaks, expect big move. For more detailed data, visit PENDLE Spot Analysis and PENDLE Futures Analysis pages. Apply your own risk management, market is volatile.