$PENGU traded at US$0.022 The reading from the one-day chart for PENGU/USD shows that this meme coin is trading above its Ichimoku Cloud.
The Ichimoku Cloud tracks the market trend momentum of an asset and identifies potential support/resistance levels. When an asset is trading above this cloud, it reflects bullish pressure in the market. This means demand is strengthening, with bearish pressure remaining controlled.
If accumulation continues, PENGU could extend its rally towards US$0.024.
However, if buying activity decreases amidst increasing profit-taking, PENGU could reverse the current trend and fall to US$0.0180.
