Foolish dreams of unreasonable imagination

A technical analysis for $PENGU


/USDT based on the 1-hour chart:

• Current Price: 0.037537 USDT (+6.33% in 24h)
• 24h Range: 0.034526 – 0.038529
• Volume: High liquidity with 3.84B PENGU traded.

1. Moving Averages (MA)

• MA(7): 0.037356 – Price is slightly above this, showing short-term bullish momentum.

• MA(25): 0.036710 – Price is also above the mid-term average, indicating a possible trend reversal to the upside.

• MA(99): 0.038108 – Still acting as resistance. Until price breaks this, the uptrend is not fully confirmed.

2. Price Action

• The chart shows a recovery from the recent low of 0.034526.

• There was a sharp rejection near 0.038529 (24h high), showing sellers are still active around that level.

• Current candles show buying pressure after a pullback, which can be a bullish continuation sign.

3. Support & Resistance

• Immediate Support: 0.036710 (MA25)

• Stronger Support: 0.034526 (recent low)

• Immediate Resistance: 0.038108 – 0.038529 zone

• Breakout Level: Above 0.038529 could trigger a stronger upward move toward 0.040000.

4. Trend & Sentiment

• Short-term bias: Bullish, as price is above both short and mid-term MAs.

• Medium-term: Neutral to bullish; needs to break above MA(99) to confirm a sustained uptrend.

5. Trading Outlook

• Aggressive traders: Could consider buying on dips toward 0.0367 with a target near 0.0385, stop-loss below 0.0360.

• Conservative traders: Wait for a breakout and close above 0.03853 for confirmation of a stronger move.

Risk Note: If the price drops back below 0.0367, momentum could shift back to bearish.