$PENGU /USDT Daily Chart Analysis – ⚠️ Bearish Trend with Short-Term Reversal Signs

Current Price: $0.012251 (-3.83%)

Daily Range: High: $0.014190 – Low: $0.011827

🔹 Key Technical Insights:

Trend & Price Action:

✅ PENGU has dropped by -3.83% today, showing continued bearish pressure after a sharp decline in recent months.

✅ The price is well below the moving averages, indicating the prevailing downtrend.

✅ Bollinger Bands are contracting, suggesting reduced volatility and potential for further consolidation or minor price swings.

Moving Averages (MA):

✅ SMA 5, 10, 20 → Bullish → Indicating short-term positive momentum.

❌ SMA 50 → Bearish → Long-term trend still negative.

Momentum Indicators:

RSI (D: 86.19, 15: 32.41, 60: 41.64, 240: 65.07) → Overbought (Daily) ⚠️

Stochastic RSI: Bullish crossover → Suggests a potential short-term bounce ✅

MACD: Bullish crossover → Indicates possible short-term momentum shift ✅

ADX: Bullish crossover → Trend gaining strength, but overall trend is weak ⚠️

MFI (Money Flow Index): Overbought → Potential for a pullback ⚠️

VWAP: Downtrend → Suggests selling pressure dominating the market ✅

📉 Support & 📈 Resistance Levels:

📈 Resistance: $0.014190, $0.015, $0.02

📉 Support: $0.011827, $0.01, $0.005

⚠️ Outlook & Trading Plan:

✅ Bullish Scenario: A break above $0.014190 could signal a short-term reversal to $0.015 - $0.02.

⚠️ Bearish Risk: Given the overbought RSI, a pullback to support levels like $0.011827 or lower could be likely.

📢 Conclusion:

PENGU/USDT is currently in a downtrend, with most indicators showing bearish momentum. However, the bullish crossovers on Stochastic RSI and MACD suggest that there could be a short-term rebound. The overbought RSI and MFI, however, point to the possibility of a pullback. Keep an eye on the $0.011827 support level for any potential reversal.

#PENGU #Crypto #Trading #TechnicalAnalysis