$PENGU/USDT: Consolidation Phase with Breakout Potential
Current Price: $0.02445 (+2.83% in 24 hours)
Trend: Consolidating within a tight range after rebounding from a low of $0.02231.
Key Levels:
Support:
$0.02310 (Critical to sustain bullish momentum)
$0.02200 (Key fallback level)
Resistance:
$0.02470 (Immediate hurdle)
$0.02730 (Major breakout level)
Trade Setup:
Long Entry: Above $0.02470
Targets:
1. $0.02600
2. $0.02730
Stop Loss: Below $0.02310
Short Entry: Below $0.02310
Targets:
1. $0.02200
2. $0.02050
Stop Loss: Above $0.02470
Market Indicators:
RSI: 42.20 (Neutral, with room for directional movement)
Parabolic SAR: Bearish dots above price suggest short-term downward pressure.
Williams %R: -66.46 (Leaning toward oversold, indicating potential reversal).
Outlook:
A breakout above $0.02470 could trigger a bullish rally targeting $0.02730. However, losing $0.02310 support may result in sharper declines. Monitor closely as the price approaches these critical levels.
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