Recently, PENGU (Pudgy Penguins) has been very active, attracting considerable attention in the cryptocurrency circle. In the past week, its price has skyrocketed, reaching around 0.038 USD at the time of publication, with a weekly increase of 28% and a 24-hour increase of 12%. The trading volume has reached 527.7 million USD, showing strong interest! What does this rebound really mean? Let's break it down slowly.
Market structure: clear rebound-correction cycle
From the weekly chart, PENGU shows a typical rebound-correction cycle. From May to July this year, PENGU rose steadily, while August saw a slight pullback. The recent trend indicates that a similar rebound cycle may form again. Technically, the support level is around 0.030 USD, and the resistance level is around 0.045 USD. As long as buyers continue to maintain control, a mid-term breakthrough of 0.07 to 0.09 USD is not impossible.
There is another phenomenon worth noting on the chart - the lows are continuously rising, which means that each time there is a pullback, buyers are entering the market, and market confidence is gradually recovering. For ordinary investors, this rising low trend is often a good signal for a medium-term rebound.
Technical indicators have fully turned bullish
Recent technical signals for PENGU are also strengthening. On the three-day chart using the TD Sequential indicator, a new buy signal has appeared - the K line shows '9', which usually indicates that the downtrend is nearing its end, and selling pressure is weakening.
At the same time, the Ichimoku Kinko Hyo shows that the conversion line has moved above the baseline, and the forward cloud has turned green, indicating that momentum is shifting towards bullish. The MACD has crossed into the bullish channel, and the histogram is positive, supporting the view that PENGU's market is improving. For beginners, a simple understanding is: a buy signal has already appeared, and there is a great opportunity for a short-term rebound.
Support and resistance levels: key points to pay attention to
The current key support level is at $0.033. If the price falls below this level, the bullish momentum may weaken, potentially triggering a selling wave. Resistance is concentrated between $0.038-$0.045. Once the price consistently breaks through $0.038, the market is expected to further challenge $0.045.
Additionally, the liquidation pressure from both bulls and bears is also key to short-term fluctuations. Bullish liquidations are concentrated below $0.036; if this level is broken, high-leverage positions may be forcibly liquidated, triggering a rapid price drop. Bearish liquidations start from $0.0385; if the price breaks through this region, bears will be forced to close their positions, which will accelerate the upward momentum. Therefore, $0.036 is the bullish defense line, and $0.0385 is the bearish pressure point. #山寨币市场回暖
Summary: Opportunities and risks coexist
The rebound momentum of PENGU is significant, with solid support levels. In the short term, it is expected to challenge $0.045, while the medium-term target points to $0.07-$0.09. For beginner investors, seizing low buy opportunities is possible, but be sure to pay attention to risks, especially the liquidation risk of high-leverage positions. The market filters people every day; those who dare to execute according to the rules will have the chance to reap rebound dividends.
Overall, #pengu is currently in a relatively healthy rebound cycle. Short-term repeated pullbacks can be seen as opportunities for positioning, and there is still potential in the medium term. For those who want to participate, remember to pay attention to support and resistance levels, set reasonable take-profit and stop-loss levels, and don't be frightened by short-term fluctuations. As long as the strategy is clear, there are still opportunities to share in the rebound boom of PENGU! #CPI数据来袭
