Market Overview for Pudgy Penguins/Tether (PENGUUSDT)

Summary
• Price declined from 0.010722 to 0.01007 over 24 hours, with notable bearish momentum in the second half.
• A bearish engulfing pattern formed at 0.01062, signaling a short-term reversal.
• Volume spiked during the sharp decline, especially after 15:00 ET.
• RSI hit oversold territory near 0.010096, hinting at potential bounce or continued bearishness.
• Bollinger Bands showed contraction early, then widened during the downtrend.

Pudgy Penguins/Tether (PENGUUSDT) opened at 0.010699 on 2025-12-14 at 12:00 ET and closed at 0.01007 on 2025-12-15 at 12:00 ET, with a high of 0.010834 and low of 0.010052. Total volume was 535,772,167.0 and notional turnover amounted to approximately 5,479,391.49 USD over 24 hours.

Structure & Formations

PENGUUSDT formed a bearish engulfing pattern at 0.01062 after a brief pullback, which signaled a resumption of the downward trend. A doji appeared at 0.010514 in the early afternoon, suggesting indecision.

The price found key support at 0.010443, 0.010361, and most recently at 0.010052. Resistance levels are now at 0.010567 and 0.010623, with a critical psychological level at 0.010700.

Moving Averages

On the 5-minute chart, the price consistently traded below the 20 and 50-period moving averages, reinforcing bearish momentum. The daily chart shows the price well below the 50, 100, and 200-period moving averages, indicating a sustained bearish bias with no signs of reversal.

MACD & RSI

The MACD turned negative and crossed below the signal line after 15:00 ET, reinforcing the bearish momentum. RSI dropped into oversold territory near 0.010096, signaling potential exhaustion in the downtrend and a possible short-term bounce. However, the low RSI reading has not led to a reversal yet, suggesting further bearish pressure could materialize.

Bollinger Bands

Bollinger Bands showed a period of contraction between 17:00 and 20:00 ET before widening during the sharp decline. The price moved near the lower band throughout the late trading session, indicating heightened volatility and bearish bias. This suggests the move could continue for now, especially if the 0.010058 level is not retested.

Volume & Turnover

Volume spiked significantly after 15:00 ET, especially between 15:00 and 16:30 ET, coinciding with the sharp price drop from 0.010662 to 0.010096. Notional turnover also rose sharply during this period. The strong volume confirmed the bearish move and ruled out a false break. A divergence between price and volume, however, is not evident at this time.

Fibonacci Retracements

Applying Fibonacci levels to the recent 5-minute swing from 0.01064 to 0.010368, the price found support near the 61.8% retracement level at 0.010516 before continuing lower. On the daily chart, the move from 0.010722 to 0.010052 has seen price testing the 61.8% retracement level at 0.01046, which failed to hold, suggesting a more aggressive bearish scenario ahead.

Pudgy Penguins/Tether faces a critical test of the 0.010058 support level, with a potential bounce or continuation of the downtrend likely depending on volume behavior and order flow. Investors should remain cautious, as volatility appears to be rising and the RSI in oversold territory does not guarantee a reversal.