After twice failing to break above $0.011, $PENGU is putting all the pressure on the $0.0085 neckline.
A technical double top is taking shape, while fundamentals are making matters worse: the parent company has shut down its project Abstract, dealing a major blow to community confidence. On the charts, the price is accelerating downward toward the EMA50 and neckline zone.
The price can’t push higher, and the parent company is still shutting down projects. $0.0085 is absolutely no safe floor for buying the dip. If the neckline breaks, there’s no reason to expect buyers to absorb the selling pressure once the pattern is confirmed.
#PENGU
👇
A technical double top is taking shape, while fundamentals are making matters worse: the parent company has shut down its project Abstract, dealing a major blow to community confidence. On the charts, the price is accelerating downward toward the EMA50 and neckline zone.
The price can’t push higher, and the parent company is still shutting down projects. $0.0085 is absolutely no safe floor for buying the dip. If the neckline breaks, there’s no reason to expect buyers to absorb the selling pressure once the pattern is confirmed.
#PENGU
👇
