Bearish Divergence: Stochastic RSI on both 1H and 4H shows lower highs, while price made higher highs—indicating weakening momentum. • Weak BTC Pairing: ADA is underperforming against BTC, signaling potential downside. • Short-Term Outlook: Price likely to face selling pressure unless BTC weakens significantly. • Support Levels: Watch for key support zones where reversal or consolidation might occur.
🔎 Analysis 1. Bearish Divergence: On both the 1-hour and 4-hour charts, Pendle is showing bearish divergence in the Stochastic RSI. The price is making higher highs, while the Stochastic RSI is showing lower highs, indicating weakening momentum and potential reversal to the downside. 2. Resistance Zone: Pendle is facing significant resistance at higher levels. The price has been struggling to break through this resistance zone, suggesting that upward movement may be limited unless a breakout occurs. 3. Loss of Momentum: The Stochastic RSI on both timeframes is showing signs of losing bullish momentum. This could indicate that further upward movement may be difficult to sustain without fresh buying pressure.