$PENGU
Early Warning: Is PENGU Nearing an Imminent Collapse?
Within just two hours of its listing, $PENGU has entered a technical red zone, with warning signs of underperformance. Despite the price holding at 0.5007 USDT, the upside strength is only 0.14, far below what is needed to support a strong bullish wave.
Technical analysis reveals the truth:
- Bollinger Bands indicator shows that the price is approaching a critical resistance level at 0.5010, which could hinder any new momentum.
- RSI reading 52.08, indicating neutral momentum tending to weaken.
- Low volatility (0.66) raises doubts, instead of the expected enthusiasm for a new coin, an eerie calm prevails, resembling the “calm before the storm”.
- MACD is approaching zero, reflecting the decline in buying power and the possibility of an imminent sell-off.
How to act now?
1. If you own the currency: Beware of false gains! It may be a good time to take partial profits when the price approaches the 0.5010 level.
2. If you are thinking of buying: Don't rush! Wait for a better entry opportunity at more stable support levels.
3. If you are risk averse: Watch the scene from afar until the picture becomes clear and the price establishes its base.