$ PENGU/USDT chart on the 4-hour timeframe:
🔍 Trend Overview
The pair previously hit a peak at $0.046608 and has since corrected.
It is currently trading at $0.035053, consolidating sideways just above the 200 EMA.
Short-term momentum shows congestion and lack of direction, suggesting accumulation or indecision.
📊 Support and Resistance Levels
Support Zones:
1. $0.0341 – $0.0345 → Local support (horizontal + EMA 21 zone)
2. $0.0325 → 24h low, strong support
3. $0.0273 → Major support (close to 200 EMA)
Resistance Zones:
1. $0.0352 – $0.0355 → EMA 50 zone, minor resistance
2. $0.0362 → 24h high and previous rejection zone
3. $0.0410 – $0.0466 → Key resistance range; breakout could test ATH again
📈 Indicators Analysis
EMAs (Exponential Moving Averages):
EMA 21 ($0.03457) < Price: short-term bullish bias.
EMA 50 ($0.03524) ≈ Price: mid-term neutral.
EMA 200 ($0.0311) < Price: strong long-term support.
RSI (Relative Strength Index - 6):
Currently at 57.27 → Neutral to slightly bullish.
No overbought or oversold conditions; room for both upward or downward movement.
Volume:
Volume declining recently → indicates potential breakout or breakdown coming soon.
Last major spike was during strong upward move → monitor for volume confirmation.
📌 Trade Entry Ideas
✅ Long Entry:
Entry 1: $0.0345 - $0.0350 (near support zone and EMA 21)
Stop-loss: Below $0.0325
Targets:
TP1: $0.0362 (24h high)
TP2: $0.0410
TP3: $0.0466
Entry 2 (Breakout Trade):
Above $0.0362 with volume spike
Target: $0.041 → $0.046
❌ Short Entry:
Entry: Breakdown below $0.0325
Stop-loss: Above $0.0345
Targets:
TP1: $0.0310 (200 EMA)
TP2: $0.0273