PENDLE Weekly Analysis Jan 28

PENDLE is testing critical resistances at the $2.01 level with a weekly 7.20% recovery while maintaining its primary downtrend structure; although market structure gives distribution signals, BTC correlation makes a cautious approach mandatory for altcoins.

PENDLE in the Weekly Market Summary

PENDLE traded in the $1.85 – $2.02 range this week and closed the week at $2.01 with a 7.20% rise. Volume profile remained at a moderate level of $30.39M, momentum RSI balanced in the neutral zone at 48.36 while MACD gives a bearish signal with a negative histogram. Staying below the short-term EMA20 ($2.03) keeps the trend filter bearish. In the bigger picture, PENDLE appears to be seeking an accumulation phase within the long-term downtrend, but resistance density limits upward movements. For position traders, weekly closes and BTC movements will be decisive. Check the PENDLE detailed spot analysis page for detailed spot data.

Trend Structure and Market Phases

Long-Term Trend Analysis

The long-term trend structure characterizes a clear downtrend; price is moving under falling EMA curves on higher timeframes (1W/1M) and the lower high/lower low formation continues. With the primary trend defined as bearish, the $2.41 resistance is positioned as the main trend filter. As long as this level is not broken, the downtrend will remain intact. From a market cycle perspective, the distribution phase has dominated since the peaks at the end of 2025; the recent weeks’ recovery can be evaluated as a counter-trend rally. For portfolio managers, long-term short positions are attractive but synchronization with the BTC macro cycle is essential.

Accumulation/Distribution Analysis

Volume profile and price action show accumulation characteristics around $1.85: low-volume bottom tests and slight higher lows. However, volume increase remained limited during the rise to $2.02, indicating weak short covering rather than strong accumulation. Distribution patterns are emerging: selling pressure is increasing in the upper range ($2.00+), with rejections particularly visible at the $2.0976 resistance. According to Wyckoff methodology, volume confluence and breakout are required for transition to the markup phase. Currently, it’s hard to distinguish whether it’s re-accumulation or secondary distribution; key levels should be monitored. Follow PENDLE futures market data for the derivatives market.

Multi-Timeframe Confluence

Daily Chart View

On the daily chart, confluence is high with 3 supports/3 resistances: supports $1.9723 (60/100), $1.8488 (61/100), $1.6550 (63/100); resistances $2.0976 (73/100) in the foreground. Price maintains the bearish short-term structure below EMA20, RSI around 48 seeking divergence. Daily close above $2.03 is the inflection point for short-term trend flip. 1D Supertrend is bearish, momentum weak.

Weekly Chart View

On the weekly, there is 1 support/4 resistance density: main resistances $2.3930 (63/100), $2.8490 (69/100). Weekly candles are doji-like, showing indecision; downtrend intact but $1.85 support holding strong. 3D timeframe has 1S/1R confluence, weekly EMA50 ($2.41) main barrier. Multi-TF confluence supports bearish bias, clean breakout required for upside. Visit the PENDLE and other analyses section for all analyses.

Critical Decision Points

Main supports: $1.9723 (near), $1.8488, $1.6550 – breaking these levels will trigger downtrend acceleration. Resistances: $2.0976 (critical, 73/100), $2.3930, $2.8490 – close above $2.10 mandatory for bullish flip. Upside objective $3.1736 (25/100), downside risk $0.8552 (22/100). R/R ratio strategic: longs can target 1:2+ but with BTC confirmation. Market structure says ‘trend remains intact as long as above $2.0976’.

Weekly Strategy Recommendation

In Case of Rise

If $2.0976 breaks and weekly close is $2.10+, activate long positions: first target $2.3930, extension $2.8490-$3.1736. Stop-loss below $1.9723, position sizing 2-3% risk. Wait for volume spike for accumulation phase confirmation. If BTC stable above $89k, it supports altcoin rally.

In Case of Fall

Short opportunity on daily close below $1.9723: targets $1.8488, $1.6550, extreme $0.8552. Stop above $2.0976. Bearish MACD divergence and BTC downtrend confluence provide high R/R. If distribution pattern continues, descent to monthly lows likely.

Bitcoin Correlation

BTC in downtrend at $89,536 level, Supertrend bearish and rising dominance creating pressure for altcoins. If BTC supports $88,355 / $86,075 break, PENDLE slides below $1.85; if resistances $89,190 / $91,289 hold, room opens for alt rally. PENDLE highly correlated with BTC (%0.85+), in BTC below $84k scenario PENDLE downside risk drops to $1.65. Hedge altcoin positions according to BTC key levels.

Conclusion: Key Points for Next Week

Next week focus: $2.0976 resistance test and $1.9723 support hold; monitor BTC movements around $89k. Weekly close above $2.03 bullish bias, below bearish acceleration. Volume confluence and macro news (otherwise BTC-focused) will determine direction. Position traders, stay patient with multi-TF confluence – short bias in foreground as long as trend structure preserves downtrend.