technical analysis and trade signal for the $PENGU /USDT pair based on the current data:

Current Price:

$0.040039 (Up +9.57% in the last 24 hours)

Key Levels:

Support Level (24h Low): $0.035580

Resistance Level (24h High): $0.041642

Trend Analysis:

The price has recently been in a bullish momentum with an increase of 9.57% in the last 24 hours.

The market depth shows significant buying interest near $0.041642, but also some resistance as the price touches that level.

The 24h volume (PENGU: 3.40B) indicates strong trading activity, suggesting continued volatility and momentum.

Trade Signal:

Buy Signal: If the price holds above $0.038 (support zone) and breaks above $0.041642 (resistance), a bullish continuation is expected.

Sell Signal: If the price falls below $0.035580, caution is advised, and we may look for potential bearish momentum.

Target Levels:

1. Target 1 (Short-term): $0.042

Look for price action to approach and potentially break the recent high of $0.041642.

2. Target 2 (Medium-term): $0.045

A break above $0.042 would signal further upward momentum towards the next resistance at $0.045.

3. Target 3 (Long-term): $0.050

If bullish momentum persists, the next significant resistance target lies at $0.050, which would mark a stronger rally.

Momentum Indicators:

MACD (Moving Average Convergence Divergence) is likely showing positive divergence, suggesting increasing buying pressure.

RSI (Relative Strength Index): Keep an eye on the RSI. If it approaches or exceeds 70, consider possible overbought conditions, which could indicate a potential pullback.

Volume: High volume (129.57M USDT) supports the ongoing bullish trend, but watch for volume divergence at key levels.

Trade Plan:

Entry: Consider entering near $0.038 if the price stays above this support, or wait for a confirmation break above $0.041642 for more certainty.

Stop Loss: Set a stop loss around $0.035 to limit downside risk.

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