$PENGU 🚀 BULLISH MOMENTUM 🚀
Chart Overview
The current structure shows PENGU forming a bullish flag, with resistance around $0.045 and solid support near $0.035. This range has held during consolidation, suggesting the potential for a breakout setup.
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Fibonacci Levels (Retracements & Extensions)
Given PENGU's recent low ($0.07), important Fibonacci levels include:
38.2% Retracement: ~$0.029
50% Retracement: ~$0.0365
61.8% Retracement: ~$0.0372–$0.0375 (also overlapping with resistance)
127.2% Extension: ~$0.052
2.0–2.618 Extensions: ~$0.045 → $0.046–$0.047 target zone
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Trade Setup Strategies
1. Breakout Long (Momentum Setup)
Entry: Upon clean break and close above $0.045 with good volume
Stop-Loss: Below $0.037
Targets:
T1: $0.052 (127% extension)
T2: $0.060–$0.070 (higher extensions/psychological zones)
2. Pullback Long (Conservative Entry)
Entry Zone: $0.036–$0.038 (50–61.8% Fib, strong confluence area)
Stop-Loss: Below $0.035
Targets:
T1: $0.045
T2: $0.052
T3: $0.060–$0.070
Tips & Risk Management
Confirm breakout strength with volume surge and momentum indicators like RSI or MACD.
Risk should be capped at 1–2% of trading capital per setup.
Fibonacci levels are best paired with other confirmation tools (trendlines, chart patterns).
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