๐ฅ$PENGU /USDT โ Strong Recovery or Just a Pause? ๐
๐ Timeframes Analyzed:
โข 1H Chart: Price attempting a breakout but facing resistance at 0.01044, forming lower highs post-spike.
โข 4H Chart: Bullish recovery visible from 0.0094 low, but consolidation near 200 EMA zone hints caution.
๐ Technical Breakdown:
โข EMA Resistance Cluster: Price is testing the red 200 EMA (0.01044), acting as strong dynamic resistance.
โข Support Levels:
โโฃ Minor: 0.01001 (Yellow MA)
โโฃ Strong: 0.00988 (Blue MA)
โข RSI (1H): 59.68 โ Slight pullback from overbought zone.
โข RSI (4H): 52.46 โ Recovery underway, but below key bullish threshold (60+).
๐ฏ Trade Strategy (Short-Term):
๐ธ Buy Zone: Pullbacks near 0.00990โ0.01000
๐ธ Target: 0.01120 (Next resistance on 4H)
๐ธ SL: Below 0.00980 (structure invalidation)
๐ Global Sentiment Insight:
Memecoins like $PENGU are witnessing speculative bounces across alt markets. However, lack of volume spike and resistance pressure hint it's not yet a breakout, rather a pause at resistance.
๐ง Pro Tip:
If $PENGU closes above 0.01044 on 4H with strong RSI and volume confirmation, trend reversal could confirm.
๐ Market rewards patience, not excitement. Always trade with a plan.
๐ DYOR. This is not financial advice.
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