it already going down 👇🏼

$PENGU ### Pengu/USDT Analysis on Binance it has surpassed my expectations & is on course to hit $1 before midnight 31 Dec

But $1 is undervalued, this token backed by strong nft holders & a community should reach $10 in January.

#### **Current Price & Trend:**

- **Price:** $0.0337

- **Trend:** Upward momentum observed, with price nearing a short-term resistance level.

- **Bollinger Bands:** Price is trading near the upper band, indicating strong upward volatility. A breakout above the band may suggest further gains, while retracement towards the mid-band ($0.0300) is possible if the rally cools down.

- **RSI:** RSI is at 89, signaling overbought conditions and the possibility of a short-term pullback.

- **Volume:** Increased trading volume supports the ongoing bullish trend.

## **Support/Resistance Levels:**
- **Immediate:** $0.0300
- **Stronger:** $0.0250

- **Resistance:**

- **Initial:** $0.0350
- **Stronger:** $0.0400

#### **Price Prediction:**
- **Short-Term:**

- A breakout above $0.0350 may lead to a rally towards $0.0375 (TP2) and $0.0400 (TP3).

- Failure to sustain above $0.0300 could result in a correction towards $0.0250.

#### **Trading Strategy:**

- **Entry Zone:** Between $0.0300 and $0.0320

- **Target:**

- TP1: $0.0350

- TP2: $0.0375

- TP3: $0.0400

- **Stop Loss:** $0.0280

#### **Key Indicators:**
- **Moving Averages:**
- 20-period EMA trending upward, supporting the bullish trend.

- 50-period EMA at $0.0280 acting as a strong support level.

- **Candlesticks:** Bullish engulfing pattern observed, confirming buying interest.

- **Volume:** High trading volume aligns with the upward price movement.

#### **Summary:**
is showing bullish momentum with the price trending above key moving averages and nearing resistance levels. Traders may consider entering positions near support zones and targeting Fibonacci retracement levels at $0.0350, $0.0375, and $0.0400. Stop loss at $0.0280 is advised to minimize downside risk.