🔻 PENGU -7.13% — Entering Oversold Zone, Bounce Starting Nearby?
PENGU/USDT is currently under strong bearish pressure on the 4-hour timeframe, with price around 0.007593. After previously forming a peak around 0.010584, the price structure continues to decline and is now approaching an important support area.
📉 The trend is still bearish. Price is below MA7 0.007741, MA25 0.008248, and MA99 0.008759. The Supertrend at 0.008333 is also still above the price, indicating sellers still control the market.
⚠️ RSI(6) has fallen to 20.13 and has already entered the oversold area. This creates an opportunity for a technical rebound, but MACD is still negative with DIF -0.000249 and histogram -0.000064, so there is not yet strong confirmation of a bullish reversal.
🎯 Key Levels for PENGU:
Resistance:
0.00773–0.00798 → 0.00814–0.00833 → 0.00860
Support: 0.00741–0.00743 → 0.00700 → 0.00640
If the 0.00741 area can hold, the chance of a rebound toward 0.0079 opens up. Conversely, a breakdown below that support could extend the correction toward 0.0070–0.0064.
Is PENGU ready to bounce from the oversold zone? 👀🐧
#pengu #trading #crypto #altcoins #Write2Earn
$PENGU
PENGU/USDT is currently under strong bearish pressure on the 4-hour timeframe, with price around 0.007593. After previously forming a peak around 0.010584, the price structure continues to decline and is now approaching an important support area.
📉 The trend is still bearish. Price is below MA7 0.007741, MA25 0.008248, and MA99 0.008759. The Supertrend at 0.008333 is also still above the price, indicating sellers still control the market.
⚠️ RSI(6) has fallen to 20.13 and has already entered the oversold area. This creates an opportunity for a technical rebound, but MACD is still negative with DIF -0.000249 and histogram -0.000064, so there is not yet strong confirmation of a bullish reversal.
🎯 Key Levels for PENGU:
Resistance:
0.00773–0.00798 → 0.00814–0.00833 → 0.00860
Support: 0.00741–0.00743 → 0.00700 → 0.00640
If the 0.00741 area can hold, the chance of a rebound toward 0.0079 opens up. Conversely, a breakdown below that support could extend the correction toward 0.0070–0.0064.
Is PENGU ready to bounce from the oversold zone? 👀🐧
#pengu #trading #crypto #altcoins #Write2Earn
$PENGU
