Based on the technical data provided for the **PENGU/USD** pair on July 23, 2025, here are the detailed forecasts for price movement during the day:
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### **Overall Summary**
- **Current Trend**: **Strong Bullish** (Strong Buy) with confirmation from the majority of indicators.
- **Main Pivot Point**: **0.04430** (key for daily movement).
- **Critical Support and Resistance**:
- **Resistance (R1)**: 0.04479 → **Main target today**.
- **Resistance (R2)**: 0.04539 (breaking it indicates a strong upward wave).
- **Support (S1)**: 0.04371 → Potential buying area.
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### **Technical Indicators Analysis**
1. **Trend Strength (Bullish)**:
- **Moving Averages**: All (from MA5 to MA200) **below the current price**, confirming the bullish trend.
- **ADX (34.15)**: Indicates a **Strong Trend** (above 25).
- **Highs/Lows + BullBear**: Strong "Buy" signals.
2. **Buying Momentum (with caution)**:
- **RSI (72.67)**: in the **overbought zone** (70+), may trigger a short correction.
- **StochRSI (100)**: **Severe Overbought** → Temporary reversal potential.
- **MACD (0.001)**: Positive + "Buy" signal, supports continued rise.
3. **Contraction Levels**:
- **ATR (0.0011)**: Low contraction → **Relatively calm price movement** (unless surprises occur).
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### **Daily Price Movement Forecast**
1. **Base Scenario (60%)**:
- **Morning**: Testing resistance **R1 (0.04479)** with slight correction due to RSI overbought condition.
- **Afternoon**: Break of **R1** and reaching **R2 (0.04539)**, especially if the price remains above **the pivot point (0.04430)**.
- **Expected Close**: around **0.04500–0.04540**.
2. **Alternative Scenario (30%)**:
- If the price breaks **Support S1 (0.04371)**: drop towards **S2 (0.04321)** due to profit-taking.
- **Bounce**: Buying at S1/S2 to support bullish indicators.
3. **Least Likely Scenario (10%)**:
- Break of **R2 (0.04539)** and approaching **R3 (0.04588)** if the rise is accompanied by high trading volume.
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### **Trading Recommendations**
- **Entering Buy**:
- near **S1 (0.04371)** or when **holding above the pivot point (0.04430)**.
- **Stop Loss**: below **S2 (0.04321)**.
- **Take Profit**:
- at **R1 (0.04479)** → Partial take profit.
- at **R2 (0.04539)** → Full take profit.
- **Warning**: Avoid long positions at high RSI levels (70+) without waiting for a correction.
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### **Summary**
- **Forecast**: **Bullish** with a target of **0.04539+**, but may experience slight corrections due to overbought conditions.
- **Main Risks**: Quick profit-taking at resistances or unexpected data.
- **Optimal Strategy**: **Buy on support** while monitoring trading volume.
> Note: These forecasts are based on data at 05:18 AM. It is advisable to follow real-time news and trading volumes to adjust entry/exit.
