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๐ PENGU/USDT 4H Analysis โ Traderโs Eye View
Currently, PENGU is trading around 0.0287 USDT after facing multiple rejections from the upper resistance zone (0.040 โ 0.050 USDT). Price has been consolidating between the upper resistance and lower support zone (0.025 โ 0.028 USDT), forming a descending wedge pattern on the 4H timeframe.
๐ Key Observations:
1. Upper Resistance Zone (0.040 โ 0.050 USDT):
Strong rejection levels where sellers are actively pushing back.
Bulls need a clear breakout above this zone for a strong upside rally.
2. Lower Support Zone (0.025 โ 0.028 USDT):
This is acting as a demand zone, where buyers are defending aggressively.
If this level breaks, a sharp dump could follow.
3. Current Price Action:
Market is at a critical decision point.
Two scenarios are possible:
๐ป Dump then Bullish: Price may test the lower support zone once again, and if buyers step in, we may see a reversal rally.
๐ผ Breakout Confirmation: If price breaks the descending wedge to the upside with strong volume, we can expect a bullish momentum towards the upper resistance zone again.
โก Traderโs Eye Tip:
Always watch the support zone closely โ if it holds, accumulation can bring strong upside potential. But if it fails, protect your capital with stop-loss management.
๐ก Pro Traderโs Reminder:
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