PENGU is trading at $0.04248, staging a sharp V-shaped recovery after a quick pullback from recent highs. This pattern on the 5-minute chart suggests that buyers have aggressively stepped in at the lows, absorbing the selling pressure and potentially setting the stage for the next leg up.
The price action shows a clear reversal from the $0.0420 level, indicating strong immediate support. The momentum appears to be shifting back in favor of the bulls.
📈 Key Levels:
Resistance: $0.04350, $0.04450 (Recent High)
Support: $0.04200 (V-Bottom Low)
🎯 Buy Zone: $0.04230 – $0.04250
🛡 Stop Loss: Below $0.04190
🎯 Target 1: $0.04350
🎯 Target 2: $0.04450 and higher
🔥 My Take: This V-shaped bounce is a strong bullish signal in the short term. As long as the price remains above the recent low of $0.04200, the path of least resistance is upwards. A break above the initial resistance at $0.04350 could accelerate the move to retest the peak at $0.04450. Keep a tight stop loss as this is a low-timeframe setup.
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