Bitcoin bounce back above $107,000, creating momentum for DeFi to break through: PENDLE, AERO and UNI accelerate

As of the time of writing this article on Tuesday, the price of Bitcoin (BTC) has slightly increased above $107,000 after recording a 1.14% gain in the previous session. A slight bounce back momentum across the market has begun, with decentralized finance (DeFi) tokens such as Pendle (PENDLE), Aerodrome Finance (AERO), and Uniswap (UNI) leading the rise.

Bitcoin holds steady at $107,000, waiting for a bullish reversal signal

In the past 24 hours, Bitcoin reached a peak of $108,952 on Monday before adjusting to the $106,000 range. After a bounce back during the day, BTC held steady above the $107,000 mark, while the candlestick pattern with a long lower wick on the 4-hour chart indicates strong support around $106,143.

However, the price has not yet been able to break through the important resistance level of $108,779. The subsequent weakening momentum has formed a bearish engulfing candle pattern, pulling BTC down by 1.71%. If the price closes above this resistance area, Bitcoin may revisit the historical peak of $111,980.

BTC/USDT 4-hour chart | Source: TradingViewThe RSI indicator is currently at 55, approaching the neutral zone, reflecting that the upward momentum is showing signs of slowing down. Meanwhile, the MACD is giving a warning signal as the indicator line is at risk of crossing below the signal line, along with a gradually shrinking green histogram — indicating that selling pressure is increasing.

If the bulls cannot defend the support area at $106.143, a close below this level could lead to a deeper correction towards the $103.487 region — the low that was established on May 31.

Pendle aims for new highs

After six dull trading sessions, Pendle (PENDLE) has finally signaled a bounce back with the first bullish candle on the daily chart, recording an impressive 10% increase on Monday. This rally originated from the support zone of $3.59, pushing the PENDLE price to the key resistance level of $4.13 on the 4-hour timeframe.

However, the profit-taking pressure at high price levels has led to a slight adjustment, as shown by two consecutive red candles, both of which have long lower shadows – a sign that buying power is actively absorbing the amount of supply being released.

PENDLE/USDT 4-hour chart | Source: TradingViewIf the closing price successfully stays above $4.13, PENDLE could continue to be driven up to the $4.34 area – which was an important support zone on June 10.

The RSI indicator on the 4-hour chart is currently approaching the overbought zone, indicating that buying momentum is increasing significantly. However, investors should be cautious of the possibility of short-term corrections in an excessively bullish market.

Meanwhile, the MACD has risen into the positive zone, and the signal line continues to trend upwards – reinforcing confidence in the clearly emerging bullish trend.

On the contrary, if PENDLE breaks below the threshold of $3.88, selling pressure could cause the price to return to test the support area of $3.59.

AERO aims for the $1 mark

Aerodrome Finance (AERO) has recorded an increase of over 50% since the beginning of June, with Monday's trading session witnessing a jump of 5.45%. This bullish momentum is bringing AERO closer to a significant resistance level – the 50% Fibonacci retracement at $0.829, established from the December peak of $2.33 to the yearly low of $0.28.

After breaking above the descending price channel pattern on the daily timeframe ( as shown in the chart below), AERO is gradually forming a rounded bottom pattern – a structure that often signals a positive reversal. The next price target is set around the $1 area, coinciding with the 61.8% Fibonacci level – which is also an important psychological resistance level. If buying pressure continues to increase from investors who entered early below the 50% Fib level, this price range could become an ideal profit-taking point both technically and psychologically.