$PENGU What's next?

### Indicator Analysis

1. Bollinger Bands:

- The price was previously above the central average of the bands (MB: 0.033954), reached the upper band at **0.038455** and has now corrected below the average.

- The lower band (DN: 0.031611) may act as support in the short term.

- The current price is below the central average** and close to the support of 0.031611, suggesting a momentary correction.

2. MACD:

- DIF: 0.000403 and DEA: 0.000791, with MACD: -0.000388.

- The MACD is negative and the histogram bars are decreasing, indicating selling pressure still present.

- This reinforces that the momentum is still bearish in the short term.

3. RSI (6, 14 and 24):

- RSI(6): 33.79 (oversold).

- RSI(14): 46.99 and RSI(24): 47.57 (neutral).

- The short RSI (6) suggests an oversold condition, which may signal a slight recovery in the short term.

4. Volume:

- Volume increased significantly during the rallies but decreased during the current pullback.

- This indicates weakness in the downside movement and possible accumulation.

---

### Fibonacci Projection

- Recent High: 0.038455

- Previous Low: 0.026200

#### Fibonacci Retracement Levels:

1. 23.6%: 0.031490

2. 38.2%: 0.033110

3. 50%: 0.032327

4. 61.8%: 0.035610

Currently, the price is oscillating between 0.031611 and 0.032590, very close to the 23.6% retracement level (immediate support).

---

### Conclusion and Strategy

#### Recommendation: Long Entry

- Reason:

- RSI in oversold indicates a possibility of bullishness in the short term. - Price is close to the lower Bollinger band and 23.6% Fibonacci support.

- Falling volume suggests loss of selling strength*.

#### Operation Parameters:

1. Entry Price (Long): 0.031600 - 0.032000 (support zone).

2. Stop Loss (SL): 0.030500 (below Fibonacci and Bollinger support).

3. Take Profit (TP)*:

- TP1: 0.033100 (38.2% Fibonacci).

- TP2: 0.034500 (moving average)