$PENGU is currently gaining momentum, trading at $0.015735 with a solid intraday increase of 5.03%. The asset has shown a strong recovery from its recent low of $0.014459, breaking above key Bollinger Band midline resistance. Traders are closely watching this breakout, which could signal further bullish momentum.
Current Price: $0.015735
24h Change: +5.03%
24h High: $0.017139
24h Low: $0.014457
Key Levels to Watch:
Resistance: $0.016800 – A breakout here could push the price to $0.017500 or even $0.018000.
Support: $0.014500 – If the price retraces, this is the key zone to hold; otherwise, it may test $0.014200.
Trade Setup:
Long Entry: Above $0.016500, targeting $0.017200 and $0.018000.
Short Entry: Below $0.014500, targeting $0.014000 and $0.013500.
Stop Loss: $0.014800 for long positions, $0.016900 for short positions.
Technical Indicators:
RSI: 85.82 – Indicates overbought conditions, signaling potential profit-taking in the short term.
MACD: Bullish crossover, showing a positive momentum buildup.
Bollinger Bands: The price is nearing the upper band, reflecting strong buying pressure.
Market Insight:
PENGU’s bullish momentum suggests that it could extend its gains if volume supports a breakout above $0.016800. However, the high RSI warns traders to stay cautious of a possible pullback before further upside. Focus on the $0.016500 level for confirmation of the next trend direction.
