$PENGU Lost more than 20% in a week, and now it has bounced for two consecutive sessions.
After peaking near $0.0101 on Oct. 2, PENGU slid all the way to a low of $0.00758 on Oct. 8. The price has turned around over the past two days, closing with consecutive bullish candles, and is now around $0.0083.
On the 1-hour chart, the price has moved back above the EMA9 and WMA45. The RSI is 52.7, with short-term momentum leaning toward buyers. On the 4-hour chart, the RSI is only 44.5, still below the 50 mark.
The $0.00844 area, which has been tested three times, is the nearest resistance. If the price falls back below $0.00793, the weekly low of $0.00758 is the next level to watch.
Volume during the rebound remains lighter than in the previous heavy-selling sessions, so the recovery is not yet convincing.
Personal observation, not investment advice
#PENGU #Crypto #Altcoin #TraderLife
After peaking near $0.0101 on Oct. 2, PENGU slid all the way to a low of $0.00758 on Oct. 8. The price has turned around over the past two days, closing with consecutive bullish candles, and is now around $0.0083.
On the 1-hour chart, the price has moved back above the EMA9 and WMA45. The RSI is 52.7, with short-term momentum leaning toward buyers. On the 4-hour chart, the RSI is only 44.5, still below the 50 mark.
The $0.00844 area, which has been tested three times, is the nearest resistance. If the price falls back below $0.00793, the weekly low of $0.00758 is the next level to watch.
Volume during the rebound remains lighter than in the previous heavy-selling sessions, so the recovery is not yet convincing.
Personal observation, not investment advice
#PENGU #Crypto #Altcoin #TraderLife