On the 4-hour chart, it is evident that $PENGU is facing resistance at the level of 0.0469 USDT, while the bearish momentum directs prices towards the support zone at the level of 0.0296 USDT. $AI $SUI #BinanceAlphaAlert

EMAs on the 30-minute chart confirm the bearish trend, as short EMAs remain below long EMAs, signaling sustained selling pressure.

Analysts emphasize the importance of holding the support at 0.0296 USDT, as a breach could lead to further corrections, while a breakout above 0.037 USDT could trigger a bullish reversal.

The Pudgy Penguins token ($PENGU) was initially launched on Ethereum and recently expanded to Solana, but recent technical analysis shows that it is facing bearish sentiment. Despite its cute branding, this altcoin is a notable player in the market, and its performance may be indicative of what lies ahead for the rest of the market. #AIMarketCapDip