$PENGU /USDT Technical Analysis – Bullish Momentum Intact
$PENGU /USDT is currently trading at $0.034845, up 2.57%, showing signs of strong recovery. Here's a detailed market breakdown:
Key Support Levels:
$0.03400: Immediate support, crucial to maintaining the current bullish momentum.
$0.03250: A stronger support zone to watch if the price retraces further.
Key Resistance Levels:
$0.03580: Immediate resistance; a breakout above this level could extend the rally.
$0.03735: The 24-hour high and a critical zone for a bullish continuation.
🎯 Trading Strategies:
For Bulls:
Enter near $0.03400 on pullbacks, with a stop-loss below $0.03250.
Target $0.03580 for short-term gains and $0.03735 for a stronger rally.
For Bears:
Look for rejection near $0.03580 to open short positions, targeting $0.03400 or $0.03250.
Maintain a stop-loss above $0.03600 to manage risks.
🔥 Market Insights:
The RSI is at 81, indicating overbought conditions, suggesting a potential for a minor pullback before further moves.
Volume has increased significantly, signaling heightened market interest and potential volatility.
A breakout above $0.03580 could drive PENGU toward $0.03735 or higher, while failure to hold $0.03400 may result in a consolidation phase. Monitor these levels closely for optimal entries.