$PENGU is trading at approximately $0.0341 USDT, reflecting a slight increase over the past 24 hours.
Recent technical analysis indicates that $PENGU is encountering resistance around $0.0469 USDT, with bearish momentum potentially driving prices toward the $0.0296 USDT support zone. The 30-minute chart's exponential moving averages (EMAs) confirm a bearish trend, as shorter EMAs remain below longer ones, signaling continued selling pressure. Analysts emphasize the importance of maintaining the $0.0296 USDT support; a breakdown could lead to further corrections, while a breakout above $0.037 USDT may trigger a bullish reversal.
Conversely, some analyses suggest a bullish momentum, with $PENGU showing a 13.38% increase in the last 24 hours, indicating potential upward movement. Support and resistance levels are identified at $0.033240 and $0.040916, respectively. The Relative Strength Index (RSI) is likely in the higher range, signaling overbought conditions, which may precede a retracement.
Given these mixed signals, traders should exercise caution, closely monitor key support and resistance levels, and consider market volatility when making trading decisions.
