๐ง PENGU Market Analysis โ Hanging Man Rejection at Resistance! โ ๏ธ
๐น PENGU/USDT Price: $0.006891
๐ Resistance Level: $0.007185
๐ก Support Level: $0.006455
โ ๏ธ Market Signal: Hanging Man at Resistance โ Reversal Underway?
PENGU recently tested the resistance at $0.007185 but got rejected, forming a Hanging Man candleโa strong bearish reversal signal. The price has since pulled back to $0.006891, and if selling pressure continues, it could retest the support at $0.006455.
๐ Technical Outlook:
โ If PENGU stays below $0.007185, further downside toward support is likely.
โ A bounce from $0.006455 could trigger a recovery.
โ Traders should watch for volume confirmation before taking positions.
๐ Trading Strategy:
๐ธ Bearish Scenario: If PENGU remains weak, it could fall toward $0.006455 support.
๐ธ Bullish Potential: A strong rebound from support may lead to another resistance test.
๐ธ Watchlist: Observe market sentiment and momentum before making a move.
๐ข PENGU faces selling pressureโwill it hold support or drop further? Stay alert!
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