🚨$PENGU PENGU/USDT Market Update: Bears Take the Lead 📉
The PENGU/USDT pair is currently trading at $0.03635, reflecting a sharp -6.31% decline in the last 24 hours. This downtrend has raised concerns among traders as the price approaches key support levels.
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Key Metrics
24H High: $0.03890
24H Low: $0.03591
Trading Volume: 83.35M USDT
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Market Sentiment
Trend: Bearish momentum dominates the chart with lower highs and lower lows forming consecutively.
Support Zone: $0.03543 – A crucial level that, if breached, could invite more selling pressure.
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Critical Levels
Resistance: $0.03765
Support: $0.03543
If PENGU holds above $0.03543, we could see an attempt to recover towards the $0.037 level. A break below this support, however, might lead to further declines, potentially targeting $0.03400.
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Trading Strategy
✅ Potential Entry: Wait for price action near $0.03550 to confirm reversal signals.
✅ Targets:
Short-Term: $0.03700
Mid-Term: $0.03850
✅ Stop Loss: Below $0.03500
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Technical Indicators
MACD: Displays bearish momentum, signaling caution for long positions.
RSI: Approaching oversold territory, indicating potential for a short-term bounce.
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Conclusion
As the bears grip the market, traders should proceed with caution, watching for key support levels to hold. The upcoming sessions will be critical in determining whether PENGU can regain its bullish structure.
📢 Stay tuned for more updates and trade wisely!
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