In-depth technical analysis of the PENGU/USDT coin based on the attached image, several aspects can be considered:
1. Overall trend:
- The chart shows an upward trend (Bullish) where the price is moving in an upward line. This could indicate an increase in demand for the coin.
3. Momentum indicators:
- The Relative Strength Index (RSI) can be looked at. If the RSI is above 70, this may indicate that the coin is in overbought territory. If it is below 30, it may indicate that the coin is in oversold territory.
- MACD (Moving Average Convergence Divergence) can be used to confirm the trend. If the faster line is above the slower line, this confirms the upward trend.
3. Trading volume:
- If the trading volume is high during the rise, this indicates the strength of the trend. If the trading volume is low, there may be weakness in the movement.
4. Support and resistance levels:
- It is useful to identify support levels (where prices may pull back) and resistance levels (where prices may struggle to rise).
5. Timeframe analysis:
- It is important to look at the timeframe used. Analysis on shorter timeframes may show greater fluctuations, while analysis on longer periods may provide a clearer picture of the overall trend.