$PENGU
U/USDT Trading Signal - Bearish Momentum with Rebound Potential
Market Overview: PENGU/USDT is trading at $0.033709, down 5.70% in the last 24 hours, after hitting a low of $0.033438. The price shows signs of a short-term rebound, but the overall trend remains bearish unless significant buying interest appears above $0.034500.
Trading Setup:
Entry Zone (Short): $0.033800 - $0.034200
Targets:
Target 1 (TP1): $0.033200
Target 2 (TP2): $0.032800
Stop Loss: Above $0.034500
Analysis Highlights:
Support Zone: Immediate support lies at $0.033400, with stronger support near $0.033000.
Resistance: The key resistance is $0.034500; failure to break this level indicates further downside.
Trend: The overall trend remains bearish, as evidenced by lower highs and lower lows on the chart.
Risk Management: Secure partial profits at TP1 and move the stop loss to breakeven after the first target is achieved to minimize risk.