#Technical #analysis of the $PENGU $USDT

📊 Chart Overview

Current Price: $0.02103

24h Range: $0.02016 – $0.02175

Weekly Timeframe (1W)

Recent Low: $0.005778

Previous High: $0.046608

🧭 Trend Analysis

The chart shows a strong downtrend from the top around $0.0466 to the current $0.021 — nearly a 55% decline.

Recent candles are small-bodied with short wicks, indicating that selling pressure is easing and buyers are slowly appearing near the $0.02 support.

The long wick near $0.0057 shows a sharp rejection from the lower level — suggesting that zone may act as a strong demand/support area.

📉 Moving Averages (MA5 & MA10)

MA(5): $13.20M volume

MA(10): $13.04M volume

The short-term MA(5) is slightly above the MA(10) — a neutral to slightly bullish crossover, but weak on higher timeframe.

Price is still below major moving averages, so the macro trend remains bearish, but momentum may be shifting.

📈 MACD Indicator

MACD Line (DIF): 0.001389

Signal Line (DEA): 0.002968

MACD Histogram: -0.001580 → still negative, meaning bearish momentum, but the bars are getting shorter, hinting at momentum loss by bears.

A potential bullish crossover might occur soon if momentum continues improving.

⚖️ Volume Analysis

Volume has declined consistently over the last few weeks — indicating reduced selling pressure and possible accumulation phase.

📍 Support & Resistance Levels

Immediate Support: $0.0200 – $0.0180

Major Support: $0.0058 (strong rejection zone)

Immediate Resistance: $0.0255 – $0.0270

Major Resistance: $0.0350 – $0.0460

🔮 Outlook

Short-term (1–2 weeks): Consolidation expected between $0.020–$0.025.

Bullish scenario: Break above $0.027 may push toward $0.035–$0.04.

Bearish scenario: Drop below $0.018 could retest $0.010 or even $0.006 support.