💡 Quick technical analysis:
✅ Clear rebound from the low: After dropping to 0.009738, PENGU has notably bounced back to currently reach 0.010977, showing increased buying interest.
✅ RSI in a safe zone: The Relative Strength Index (RSI) at 57.49 – has not yet reached overbought conditions, indicating good room for continued upward movement.
✅ MACD close to a positive crossover: The lines are very close, and any upward movement could ignite new momentum towards higher levels.
✅ Stable trading volumes: Stability in volume with upward price movements indicates "accumulation" that may precede a breakout.
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🚀 Expected scenario:
If the price strongly breaks resistance at 0.0112, we could see acceleration towards the previous peak at 0.012796.
In the event of a retreat, levels 0.0102 - 0.0100 form strong support areas that could bring the price back up.
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📊 Is an explosive pattern forming?
🔍 Higher low pattern: The low at 0.009738 followed by gradually higher peaks indicates clear bullish momentum building.
🔍 Possibility of forming an ascending triangle: The price is moving between stable support and higher peaks – breaking through this channel could lead to a violent upward move.
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📈 Supportive signals from indicators:
RSI in a moderately upward level → not overbought, and there is room for more.
MACD is heading towards a positive crossover → buying momentum is increasing.
Stoch RSI at good levels → there is a chance for a new price push.
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💬 My personal opinion:
PENGU shows very promising signs technically – the rebound from the low, price consolidation, and increasing momentum indicate a large upward move is near.
But caution is always required – any break below support could change the scenario.
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✅ Final advice:
Use a stop loss below 0.0100 to reduce risk.
Keep an eye on news about the currency, especially large movements from whales.
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📢 Do you see PENGU preparing for a new launch? Will you join the wave? Share your opinion!
