📉 PENGU/USDT Crashes by 21.26%: Is This the Beginning of the End? #pengu #DeepSeekImpact

🧐 Market Update

PENGU/USDT is facing a sharp decline, currently trading at $0.017126 (-21.26%). With a 24h trading volume of 7.19B PENGU, market confidence appears shaken. Is this just a correction, or could it mark a deeper bearish trend?

📊 Technical Analysis

🔹 Bollinger Bands:

Upper Band: $0.03809 (distant resistance).

Middle Band: $0.027828 (critical psychological level).

Lower Band: $0.017565 (support under pressure).

🔹 Moving Averages:

MA(5): $3,297,448,943 (indicating increased short-term selling pressure).

MA(10): $3,869,848,931 (highlighting a continuing bearish trend).

Key Levels:

🟢 Support: $0.017056

🔴 Resistance: $0.023419

🎯 Trading Strategy

✅ Bullish Case: Recovery could occur if prices hold above $0.01700, targeting $0.02000-$0.02300.

❌ Bearish Case: A break below $0.01700 may lead to further declines, possibly reaching $0.01500.

🔮 Future Potential

The market's next move hinges on whether buyers can step in at the current support levels.

🏆 Pro Tip

Keep an eye on volume trends and news updates for any signals of recovery or further declines.

⚠ Disclaimer

This post is for informational purposes only and not financial advice. Always do your own research before trading.

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