According to the 4-hour chart, the RSI stands at 69.62, nearing overbought levels. While this suggests strong momentum, it could also indicate short-term exhaustion if buyers take a pause. PENGU could also surpass the $0.040 zone if the SEC approves Canary's application for a PENGU ETF.
Additionally, the MACD remains in bullish territory, although the histogram is starting to flatten, an early signal of waning momentum. The Bollinger Bands show that PENGU is moving aggressively in the upper band, typical of a parabolic breakout. A mean reversion towards the middle band ($0.0297) is possible if the price stalls. Finally, the ATR has risen to 0.00221, indicating increased volatility and that traders should prepare for wide swings.
The Fibonacci retracement levels suggest immediate support at $0.03136 (0.236 Fib) and deeper support near $0.0297, aligned with the middle Bollinger Band. Resistance zones are found at $0.0361 (0.5 Fib) and $0.0383 (0.618 Fib), with a possible full extension up to $0.0452.
If PENGU holds the $0.031 level and breaks the Fibonacci resistance at 0.382 at $0.0340, the next leg could drive towards $0.038. However, if the $0.0313 support is not maintained, it could open the door to a pullback towards $0.0297 or even $0.0270, which aligns with the Fibonacci baseline of 0.
