The post PENDLE Technical Analysis Feb 23 appeared on BitcoinEthereumNews.com.

PENDLE’s 24-hour trading volume is hovering at the 19.63 million dollar level, and volume remains weak during recent declines; this indicates limited selling pressure and potential accumulation signals. With low market participation and the price below EMA20, it may signal that big players are quietly accumulating positions. Volume Profile and Market Participation PENDLE’s current volume profile stands out with a 24-hour trading volume of 19.63 million dollars. This level is below the 7-day average volume (approximately 25-30 million dollars), revealing weak market participation. While the price experienced a 3.93% drop at the $1.15 level, the low volume indicates a lack of conviction (persuasiveness) in the decline. In volume profile analysis, the recent Value Area High (VAH) is around $1.29 (overlapping with EMA20), and the Value Area Low (VAL) is concentrated at the $1.14 support. The Point of Control (POC) appears fixed in the $1.20 range; this signals that the market accepts this level as fair value and is awaiting sufficient volume buildup for a sharp breakout. In terms of market participation, no volume increase is observed during upticks while the downtrend continues. This suggests retail investors are joining the selling, but institutional buyers are waiting on the sidelines. The Supertrend’s bearish signal ($1.49 resistance) is not confirmed by volume; there is no volume spike on approach to resistance. Overall, the volume profile tells a story of weak selling momentum and potential base formation. Accumulation or Distribution? Accumulation Signals Accumulation signals are strong: As the price pulls back to the $1.1430 support (69/100 score) within EMA20 ($1.29) and the general downtrend, volume decreases, exhibiting a typical ‘spring’ (test) movement. RSI at 33.31 is approaching the oversold region while the MACD histogram shows positive divergence – momentum is rising as price falls. This could indicate a ‘re-accumulation’ phase in Wyckoff methodology; big…

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Filed under: News - @ February 23, 2026 6:26 am