📈 1️⃣ Price Action $PENGU
Current price: ~0.0299 USDT, slightly down -1.04% from the previous session.
Looking at the candlesticks:
After a long sideways phase around 0.0100–0.0150, PENGU broke out strongly, forming a clear uptrend with a recent peak near 0.0350.
The price is now pulling back slightly, showing some short-term profit taking.
🔍 2️⃣ Volume
The volume bars below show:
There was a big spike in trading volume during the breakout — this confirms strong buying pressure (likely whales or FOMO).
This adds credibility to the uptrend — it’s not just a “fake pump.”
However, keep watching: if price keeps rising but volume drops, the rally may weaken and be prone to a deeper correction.
📊 3️⃣ RSI (Relative Strength Index)
RSI 14: 77.15 (purple line) → this is in the overbought zone (>70).
The RSI MA (yellow) is around 75.24, also high — showing buying momentum is still strong.
However, RSI above 70 often signals that the price may face short-term pullback pressure.
Past peaks on this chart (March & May) show that after similar high RSI readings, price corrections followed.
🧩 4️⃣ Key Levels & Pattern
The price is testing the 0.030 psychological level.
If PENGU holds above 0.028–0.030, the uptrend is likely to continue, targeting the next zone 0.035–0.040.
If it fails to hold this support and RSI starts to drop sharply toward 60, PENGU could correct back to strong support near 0.022–0.025.
✅ Summary
Trend: Overall bullish — the coin is still in a strong uptrend but hitting resistance with RSI overbought.
Strategy:
If you’re holding, consider partial profit-taking around 0.035–0.040.
If you’re looking to buy, wait for a pullback near 0.025 if you trust the bigger uptrend.
Risk management: Watch RSI closely — if it crosses below its MA, it could signal a short-term reversal.
