$PENGU /USDT Analysis โ€” Bearish to Short-Term Relief Bounce? ๐ŸงŠ๐Ÿง

๐Ÿ”ป Current Price: $0.010915

โฑ Timeframe Analyzed: 1H & 4H

๐Ÿ“‰ 24H Drop: -9.70%

๐Ÿ“ˆ 24H Highโ€“Low: $0.012253 โ€“ $0.010512

๐Ÿ“Š Chart Pattern Breakdown:

๐Ÿ• 1H Timeframe๐Ÿ“Š

Price sharply declined and formed multiple bottom wicks near $0.0105, showing buyer interest at that zone.

A small green recovery candle has printed, signaling a possible short-term relief bounce.

Price is still trading below both EMA-20 ($0.01112) and EMA-50 ($0.01152) = bearish bias intact.

MACD: Bearish momentum decreasing; histogram is flattening.

RSI (14): 40.95 โ†’ Near oversold, indicating weakening selling pressure.

๐Ÿ•“ 4H Timeframe๐Ÿ“Š

Price faced a clean rejection from $0.0122 and is now trying to hold the $0.0105โ€“$0.0109 support zone.

EMA-20 and EMA-50 crossover has turned into resistance above $0.0111โ€“$0.0115.

MACD: Still bearish, but histogram shows reducing red bars โ€” signaling momentum loss.

RSI: 49.03 โ†’ Neutral zone; buyers may step in if price reclaims $0.0111 convincingly.

๐Ÿง  Trade Strategy Thinking:

๐Ÿ”น If you are Bullish:๐Ÿ”ฅ๐Ÿ”ฅ

Entry: $0.01085โ€“$0.01090 range

Target 1: $0.01112 (EMA-20)

Target 2: $0.01152 (EMA-50)

SL: Below $0.01050

๐Ÿ”ธ If you are Bearish:โŒโŒ

Short near resistance at $0.01120โ€“$0.01150

Target 1: $0.01060

Target 2: $0.01020

SL: $0.01165 above 50 EMA

๐Ÿ“Œ Global Sentiment

Volume: 2.41B $PENGU traded in 24H shows strong speculative interest.

Funding Rate (as per Coinglass) is slightly positive โ†’ more long positions, potential for liquidation pressure.

Meme tokens like $PENGU remain high-risk and sentiment-driven, so expect volatile moves.

๐Ÿ“š Pro Tip: In meme coins, RSI + MACD divergence at key zones often leads to bounce plays. But trend reversals need volume confirmation above EMA zones.

๐Ÿ“› This is not financial advice. Always DYOR before investing or trading in any asset.

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