💡 Quick technical analysis:
✅ Strong rebound! After dropping to $0.010352, PENGU experienced a sharp rebound towards $0.011180, indicating notable buying interest in the support areas.
✅ RSI is high at 73.76 – has entered the overbought zone, indicating strong momentum but also a potential short-term correction.
✅ Positive MACD! Clear crossover with increasing green bars, enhancing the likelihood of continued upward movement.
📊 Signals from the price model:
We notice the formation of what resembles a "rising bottom" with increasing peaks – a positive signal for forming an upward trend.
🚀 Expected scenario:
If the nearby resistance at $0.011416 is broken, targeting $0.011886 then $0.012249 (highest peak in 24 hours) is expected.
In case of a correction, the nearest support is at $0.010475 – an opportunity for reloading before pushing higher again.
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🚨 Supporting signals from indicators:
RSI is in the overbought area, but the upward momentum is still ongoing.
MACD shows clearly increasing positive momentum.
Stochastic indicators K and D are in an upward trend – supporting the continuity of the current trend.
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🎯 Predictions for the next movement:
Continued momentum supports the possibility of reaching $0.012249 in the coming hours.
But caution is needed for profit-taking due to RSI reaching high areas.
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💬 My personal opinion:
PENGU shows positive technical behavior, and the current trend is upward supported by good momentum and strong indicators. However, the overbought condition necessitates caution and studied entry.
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✅ Final advice:
Use a stop loss below $0.010350 to avoid any unexpected reversal.
Watch the volume movements – they are key to confirming the upcoming price explosion.
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📢 Do you see PENGU easily surpassing $0.012? Or is the market preparing for a correction wave? Share your analysis!