#CPIWatch Technical Analysis for the PENGU/USDC Pair (Time Frame: Daily – 1D):
Current Price: $0.032916 (+15.30%)
Highest Price in 24 Hours: $0.033750
Lowest Price in 24 Hours: $0.027205
Trading Volume (PENGU): 1.16 Billion
Trading Volume (USDC): 34.97 Million
Technical Indicators:
Moving Average MA(7): 0.024889
Moving Average MA(25): 0.016332
Moving Average MA(99): 0.011671
Technical Notes:
There is a very strong rise in price driven by high momentum and clear market interest (as evident in large buying candles).
The price has broken through the three moving averages (MA7, MA25, and MA99) by a large margin, indicating a strong bullish trend.
The nearest support point currently is near the level of 0.029328 – in the event of a correction, the price may return to test this support.
The last candle shows a slight retreat after reaching the daily peak, which may indicate a potential for short-term profit taking.
Recommendation:
General Trend: Bullish
If the positive momentum continues and breaks 0.033750, the price may continue towards 0.037 or higher.
In the event of a correction, levels 0.029 and 0.024 can be monitored as potential support areas.
Warning: Due to the rapid rise, caution is advised against sharp fluctuations and proper risk management should be practiced.
