#CryptoTrading. #Signal🚥.

📊Technical Analysis (1 hour) $PENGU / USDT

1. Price and Trend: The price of PENGUUSDT has declined from around 0.035163 to 0.029928, indicating an overall downtrend in the short term. The moving average (MA) line is also showing a decline, reinforcing this trend.

2. Bollinger Bands: The price is approaching the lower limit of the Bollinger Bands (0.029481), which could signal oversold conditions or a possible rebound if demand increases.

3. MACD: The MACD lines (DIF and DEA) are below the zero mark, and the histogram is showing negative values, confirming a bearish momentum. However, the recent convergence of the lines may indicate a possible reversal signal.

4. RSI and Stochastic RSI: Stochastic RSI (11.347931) and MA Stochastic RSI (17.506605) are in the middle zone, but close to the oversold level. This may indicate the potential for a recovery if the volumes increase.

5. Volumes: Trading volumes (Vol: 559 931 017,000000) show fluctuations, with some decrease during the period of price decline, which may indicate a decrease in investor interest.

⚠️Conclusion: The trend is currently down, but technical indicators (Bollinger Bands, MACD, RSI) hint at a possible rebound or consolidation. It is recommended to watch the support level near 0.029061 and volumes to confirm further movement.