$PENGU /USDT Analysis Sharp Decline Amid Oversold Conditions #PENGU is currently trading at $0.03438, down 12.87% in the last 24 hours. The price has reached a new 24-hour low of $0.03434, with the RSI at 23 indicating heavily oversold conditions. A potential relief rally could occur, but bearish momentum remains dominant.
Key Support Levels
$0.03400: Immediate support; a break below this level could lead to further losses.
$0.03250: Critical support zone to watch if the downtrend continues.
Key Resistance Levels
$0.03550: Initial resistance to test for any recovery.
$0.03750: A significant level that could signal a potential trend reversal if breached.
Trading Setup
For Bulls:
Entry: Around $0.03400 on dips, with a stop-loss at $0.03300.
Targets: $0.03550 and $0.03750.
For Bears:
Entry: Below $0.03400, targeting $0.03250, with a stop-loss at $0.03480.
Market Insights
PENGU is under strong selling pressure, but oversold RSI levels may attract short-term buyers. Traders should watch $0.03550 closely for signs of recovery. If the price fails to hold $0.03400, further downside can be expected.