$PENGU /USDT Analysis: Bearish Consolidation with Key Support in Play

$PENGU /USDT is currently trading at $0.014612, reflecting a 4.30% decrease over the past 24 hours. The price is hovering near key support levels after testing intraday lows.
Key Levels to Watch:
Resistance Levels:
$0.01483: Immediate resistance; a breakout above this level may trigger short-term bullish momentum.
$0.01521: A critical resistance zone; overcoming this could signal a reversal.
Support Levels:
$0.01415: Strong support; a breach below this level may accelerate selling pressure.
$0.01400: Psychological support; a breakdown here could extend the decline.
Trade Scenarios:
1. Bearish Breakdown:
Entry: Below $0.01415.
Target 1: $0.01400.
Target 2: $0.01375.
Stop Loss: $0.01483.
2. Bullish Reversal:
Entry: Above $0.01483.
Target 1: $0.01521.
Target 2: $0.01560.
Stop Loss: $0.01415.
Technical Indicators:
RSI: At 49.49, suggesting neutral momentum, with a slight bearish bias.
MACD: Showing early signs of recovery, but bearish pressure remains dominant.
Parabolic SAR: Dots are positioned above the price, signaling a continuation of the downtrend.
Market Insight:
PENGU/USDT is at a pivotal point, with support at $0.01415 being crucial for the bulls. If the price sustains above this level, a short-term rebound could follow. Conversely, a failure to hold may lead to further declines. Monitor the levels closely for the next decisive move.