🐧 $PENGU /USDT – Bounce in Progress or Just a Pause? 🚨

PENGU showed signs of relief from recent sell-off, gaining +2.4% and holding the $0.0085 zone. But is it strong enough to flip into a trend reversal? Let’s break it down:

📊 1H Chart Insights:

$PENGU Price is consolidating just under resistance after a bullish spike.

Forming a bullish pennant pattern – a potential breakout trigger if volume returns 🔼

RSI at 54 – neutral zone, with slight bullish bias

MACD flattening but still above signal line

🧠 4H Chart Breakdown:

Minor recovery from recent downtrend, but 20 EMA is still below 50 MA — full reversal not confirmed yet ❌

Price nearing EMA resistance near $0.0087–$0.0090 zone

RSI rising from oversold but still below 50 (now at 43.59) – trend shift needs confirmation

MACD crossover building, but histogram weak – momentum is still uncertain

🔍 Short-Term Trade Setup:🔥

Entry Zone: $0.0084–$0.0085

Target 1: $0.0089

Target 2: $0.0093

Stoploss: $0.0082 (below recent structure)

⚠️ Caution: Trend is still weak on higher timeframes. Safe traders can wait for 4H close above $0.009 for confirmation of strength.

💬 Is PENGU preparing for a solid breakout or fading rally?

🧩 Let us know your views below & follow for more quick market breakdowns!

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