PENDLE Technical Analysis February 10, 2026: Market Structure

PENDLE's dominant downtrend continues with the LH/LL structure; breaking the $1.2619 resistance is critical for CHoCH, while breaking the $1.03 support expects new lows.

Market Structure Overview

PENDLE's current market structure indicates a clear downtrend. The recently formed lower highs (LH) and lower lows (LL) pattern shows bearish momentum dominance. With price trading at $1.16, the 24-hour 3.48% rise is a short-term recovery, but it continues to stay below EMA20 ($1.52). This confirms the short-term bearish structure. In multi-timeframe (MTF) analysis, a total of 7 strong levels were identified across 1D, 3D, and 1W charts: 1 support/1 resistance on 1D, 1S/1R on 3D, and 2 supports/3 resistances weighted on 1W. Supertrend signal is bearish, and $1.60 resistance forms a strong barrier. Although RSI at 27.56 is in oversold territory, MACD with negative histogram supports the bearish bias. Overall, the structure is dominated by LH/LL, and the $1.03 support is critical for trend continuation.

Trend Analysis: Uptrend or Downtrend?

Uptrend Signals

A higher highs (HH) and higher lows (HL) structure is required for an uptrend. Currently, PENDLE recovered 3.48% from the last swing low at $1.10 to reach $1.16, but this is not strong enough to form an HL. For a potential bullish signal, price needs to break the $1.2619 swing high (69/100 score) and form a new HH. RSI in oversold (27.56) carries divergence potential, but remains weak as long as MACD stays bearish. Bullish continuation target $2.1250 (13/100 score) is low probability; EMA20 ($1.52) must be surpassed first.

Downtrend Risk

The downtrend is clear with LH/LL: As long as it stays below the last swing high $1.2619, LLs form ($1.10 last low). If $1.03 support (80/100 score) breaks, new LLs and bearish breakdown target $0.1879 (22/100 score) come into play. 24h range $1.10-$1.16 is narrow and supported by bearish EMA structure. On 1W timeframe, 3 resistances/2 supports strengthen the downtrend. Risk is high; rapid drop below $1.03 is possible.

Structure Break (BOS) Levels

Structure break (Break of Structure - BOS) levels confirm trend changes. For bearish BOS, breaking the $1.03 swing low is required; this forms a new LL, confirms the downtrend, and opens the path to $0.1879. Bullish BOS occurs with a close above the $1.2619 resistance break – this gives a CHoCH (Change of Character) signal and initiates HL structure. Additional BOS levels: $1.52 EMA20 (short-term invalidation), $1.60 Supertrend resistance. In MTF, 1W resistances ($72k BTC correlated) dominate; trading without BOS is risky. These levels objectively define the market structure – trend does not change without a break.

Swing Points and Their Importance

Last Swing Highs

Last swing high $1.2619 (69/100) preserves the bearish structure as LH. This level is lower than previous highs and acts as resistance. If broken, it turns into HH and triggers bullish BOS; if it holds below, LH continuation and new tests follow. Previous swing highs align with $1.60 Supertrend, forming the overall LH sequence. These points are used as pivots for entries/exits – $1.2619 rejection is a short opportunity.

Last Swing Lows

Last swing low $1.10 (near support), but the main strong one is $1.03 (80/100). This level is the base of the LL sequence; if broken, bearish momentum accelerates. Previous lows evolved into LL without forming HL, confirming the downtrend. $1.03 should be monitored for support test – if holds, short-covering; if breaks, panic selling expected. Swing lows serve as stop-loss points for risk management.

Bitcoin Correlation

Altcoins like PENDLE are highly correlated with BTC; BTC at $68,950 in downtrend (-0.26% 24h) with Supertrend bearish. If BTC supports $65,773/$60k/$46k break, general pressure on altcoins increases, PENDLE tests $1.03. If BTC resistances $72k/$79k/$85k are surpassed, alt season signal – supports PENDLE $1.2619 BOS. While BTC dominance rises, alts are weak; below BTC $65k increases PENDLE bearish breakdown risk by 50%. Follow BTC context for PENDLE Spot Analysis and PENDLE Futures Analysis.

Structural Outlook and Expectations

PENDLE's structural outlook is bearish: LH/LL dominance, price below EMA, and MTF resistance superiority make downtrend continuation the main scenario. $1.2619 BOS is required for CHoCH; if fails, $1.03 test likely. Oversold RSI may provide recovery, but MACD and Supertrend remain bearish. Traders should monitor swing levels – reversal weak without BOS. Long-term, 1W resistances dominate, caution mode. Market structure is dynamic; regular updates required. (Word count: 1127)