- RSI shows bullish divergence below $0.03660
- MACD histogram stays negative, signaling weak momentum
- Resistance at $0.03840 remains key breakout level
PENGU trades near $0.037 after recent losses. Technical indicators suggest a potential recovery as the asset holds key support and forms bullish divergence on the RSI, according to analysis by @ali_charts.
Indicators Signal Momentum Shift as Price Holds Key Support
PENGU trades at $0.03745, posting a 6.77% daily drop and a 14.36% weekly decline. Price remains above the $0.03700 support zone, which has held since July 27. The hourly chart shows a TD Sequential buy signal.
This signal appears near the $0.03660–$0.03680 range, where candlestick wicks show volatility and buyer activity. The RSI has rebounded from below 30 to above 40, forming a bullish divergence against recent price action.
The divergence shows as price creates equal lows while the RSI rises. This zone matches with prior structural support and marks a potential reversal area. A trendline on the chart continues to act as support.
MACD and Volume Patterns Show Declining Selling Pressure
On the 4-hour chart, MACD remains in bearish territory. The MACD line is below the signal line, and the histogram is red. The histogram bars are still negative but show signs of flattening.
Volume data shows lower activity during the recent decline. Current volume stands at 209.01 million PENGU, down from the peak trading range seen earlier this month.
RSI on the 4-hour timeframe is at 37.49, below the 50-neutral level. The RSI moving average is 44.53, reflecting continued bearish momentum with slight recovery signs.
Price has stayed below $0.04000, which acted as resistance during the previous bounce. A breakout above $0.03840 is needed to confirm reversal strength.
PENGU recently hit a new all-time high before retracing nearly 90%. It previously distributed $1.5B in airdrops to the community.
Big accounts have started rotating into PENGU, amid speculation about a potential ETF approval. Price remains range-bound for now, but indicators show early signs of change.
