technical analysis and trade signal for the $PENGU /USDT pair, with three target levels and trade momentum insights.
PENGU/USDT Technical Analysis
Current Price: $0.03508
24h High: $0.035576
24h Low: $0.031378
Trend Analysis:
The price has recently shown a positive move of +4.49%, which indicates a bullish momentum in the market. However, the -13.1437% drop over the past 15 minutes suggests some short-term price fluctuations, creating an opportunity for both short-term and long-term trades depending on market conditions.
The price action currently sits around $0.03508, which is just slightly below the 24-hour high of $0.035576, indicating resistance near this level.
Support and Resistance Levels:
Support Level: $0.031378 (previous 24h low)
Resistance Level: $0.035576 (previous 24h high)
Trade Signal:
Bullish Trade Signal (For those looking to enter a long position):
Entry Point: $0.03500 (or near current market price)
Target 1: $0.03650 (First target level for a 4-5% gain)
Target 2: $0.03800 (Second target level for a 8-9% gain)
Target 3: $0.04000 (Third target level for a 14% gain)
Stop Loss: $0.03150 (placing stop loss just below support)
Bearish Trade Signal (For those looking to enter a short position):
Entry Point: $0.03400 (if the price retraces slightly)
Target 1: $0.03250 (First support level)
Target 2: $0.03100 (Second support level)
Target 3: $0.03000 (Third support level)
Stop Loss: $0.03650 (placing stop loss just above resistance)
Trade Momentum:
Bullish Momentum: The price is currently in an uptrend with a positive price change over the past 24 hours. As the price has retraced from the high, a potential for a new upward swing exists if the support holds.
Bearish Momentum: Short-term volatility indicates that there could be a brief pullback or consolidation before any upward movement resumes.
If the price breaks below $0.03150, it would signal a stronger bearish sentiment, while a breakout above $0.03558 could lead to further bullish gains.