$PENGU Rocketing Up, but Can It Hold Above $0.040?
PENGU/USDT is trading at $0.040942, up a strong +8.82% after surging from below $0.036. The price is now testing a local resistance near $0.04200 after an explosive run-up. Volume has spiked heavily, signaling intense buying—but also raising caution for a short-term pullback.
Key Levels to Watch
• Resistance Zone: $0.04150 – $0.04260
A clean break and hold above this area may ignite another rally toward:
• Target 1: $0.04400
• Target 2: $0.04650
• Support Zone: $0.03900 – $0.03780
If price rejects at current levels, downside pressure could drag it toward:
• Target 1: $0.03650
• Target 2: $0.03500
Volume Insight
Volume is sitting at 226M, extremely elevated compared to previous sessions. High volume on a red candle may hint at profit-taking or short-term exhaustion. Bulls need to hold above $0.040 to keep control.
Trade Setup
Bullish Entry
• Entry: Break above $0.04260 with strong candle
• Target 1: $0.04400
• Target 2: $0.04650
• Stop Loss: Below $0.03900
Bearish Entry
• Entry: Drop below $0.03780
• Target 1: $0.03650
• Target 2: $0.03500
• Stop Loss: Above $0.04150
PENGU is on fire, but also at a turning point. If it can flip $0.042 into support, the next leg higher is on deck. Otherwise, a healthy correction might offer re-entry opportunities. Watch for confirmation.