If you're still buying $PENGU every time it looks cheap, stop now.
Too many traders get trapped averaging into these ranges. They watch their capital evaporate while waiting for a bounce that never comes.
$PENGU is at $0.009234 and remains on the weak side of the 4-hour averages. Over two weeks it has ranged between $0.008520 and $0.0112, currently occupying the bottom third of that band. Nearest support is 7.7 percent down while the top of the range looks far away.
The RSI sits at 45 with momentum mid-range, and the last 24 hours saw a $0.008644 to $0.009795 move with price in the middle and volume only 1.3 times recent averages. Bulls could argue this is accumulation while $BTC chops.
I disagree. That 20 MA slipping under the 50 just four candles ago is a fresh bearish signal. In $SOL ecosystem names this often precedes a test of lower levels first.
Where do you think this goes from here?
#PENGU #Memecoins #CryptoTrading
Too many traders get trapped averaging into these ranges. They watch their capital evaporate while waiting for a bounce that never comes.
$PENGU is at $0.009234 and remains on the weak side of the 4-hour averages. Over two weeks it has ranged between $0.008520 and $0.0112, currently occupying the bottom third of that band. Nearest support is 7.7 percent down while the top of the range looks far away.
The RSI sits at 45 with momentum mid-range, and the last 24 hours saw a $0.008644 to $0.009795 move with price in the middle and volume only 1.3 times recent averages. Bulls could argue this is accumulation while $BTC chops.
I disagree. That 20 MA slipping under the 50 just four candles ago is a fresh bearish signal. In $SOL ecosystem names this often precedes a test of lower levels first.
Where do you think this goes from here?
#PENGU #Memecoins #CryptoTrading
