Hook: So, PENGU just bounced—but don’t let that fool you.
Price sits at roughly $0.03309 on the 4-hour chart (Binance) after dipping from a high near $0.04187. That’s a series of lower highs: $0.03868, $0.03453, then $0.03430. This is a textbook downtrend—even the latest uptick looks more like a retracement than a reversal .
There’s a short-term demand zone between $0.03117 and $0.03084 where buyers stepped in, so that area is holding for now. Below that? Expect support to fall away toward $0.02850–$0.02780, and worst-case, $0.02507 .
In plain terms: bulls are clawing back, but real control hasn’t shifted yet. A sustained break above previous lower highs would change the story. Until then, every bounce is suspect.
Closing line: If you’re watching PENGU, keep an eye on whether it can break that lower-high pattern—or drift back into the correction.
