$PENGU /USDT Complete Trading setup in 1hr Chart Timeframe 🚨🚨🚨🚨
Current Observations
Price: $0.034969 (+93.12%)
24H High: $0.070000
24H Low: $0.003375
Resistance Levels:
Near-term resistance at $0.0489
Major resistance at $0.0700
🐖Support Levels:
Immediate support at $0.0244
Strong support at $0.0034
🚨Trade Signals🚨
⤴️⤴️Long Position (Uptrend Continuation)
Entry Point: Around $0.0340 - $0.0355 (on confirmation of bounce)
🎯Target:
1. First Target: $0.0489
2. Second Target: $0.0700
Stop Loss: $0.0240
Risk/Reward Ratio: Favorable if price sustains above the $0.034 level.
⤵️⤵️Short Position (Pullback/Correction)
Entry Point: Near resistance at $0.0489 - $0.0500 (on confirmation of rejection)
🎯Target:
1. First Target: $0.0340
2. Second Target: $0.0244
Stop Loss: $0.0550
Risk/Reward Ratio: Short entry only if price fails to break $0.0489.
Market Updates
The coin saw an extremely volatile 93.12% increase in price.
Strong buy volume spike observed at 19:00 suggests potential for bullish momentum.
Price currently consolidating around $0.0349, forming a possible short-term base.
Watch for volume confirmation: A breakout above $0.0489 with high volume signals bullish continuation.
🚀Trading Strategy Tips
1. For Long Trades: Wait for price confirmation and breakout above $0.0350.
2. For Short Trades: Enter near resistance and protect positions with stop losses.