Based on the chart provided for $PENGU /USDT on a 30-minute timeframe, the following analysis can be made:

1. Trend Analysis: The price has shown a strong upward movement, gaining 15.86% in the last 24 hours. The bullish momentum is evident from the higher highs and higher lows visible in the recent candles.

2. Current Level: The price is trading around $0.034986, slightly below its 24-hour high of $0.035861. This indicates some resistance near the recent high.

3. Entry Strategy:

Long Entry: Consider entering long if the price breaks and holds above $0.035861 with high volume. This would confirm a continuation of the bullish trend.

Short Entry: Consider a short position if the price breaks below $0.034000, indicating a potential bearish reversal or retracement.

4. Stop Loss:

For long positions: Place the stop loss at $0.034000 to protect against a reversal.

For short positions: Place the stop loss at $0.035800 to minimize loss if the bullish trend resumes.

5. Target Levels:

For long positions: Aim for a target of $0.037500, aligning with the next potential resistance zone.

For short positions: Target $0.032000, the support zone from previous price action.

6. Risk Management: Adjust position size based on risk tolerance and ensure a risk-reward ratio of at least 1:2 for all trades.

Overall, wait for a confirmed breakout above the resistance for a long trade or a breakdown below the support for a short trade to avoid false signals.

#BinanceAlphaAlert #SolvProtocolMegadrop #BTCMiningPeak #PENGUE