PENGU Signals Buy as Price Holds Above Key Support

The cryptocurrency token $PENGU has generated renewed interest among traders following the emergence of a TD Sequential buy setup, suggesting potential market exhaustion after a recent bearish phase [1]. The indicator, widely used in technical analysis to identify turning points in price action, has completed a nine-count sequence, signaling a potential short-term rebound [1]. The signal is particularly notable given $PENGU’s recent 15.32% weekly decline, as it suggests that bearish momentum may be losing strength [1].

Price action has shown consolidation between $0.028 and $0.030, with the level serving as a crucial support zone. Traders are interpreting the ability of $PENGU to remain above $0.028 as a sign that buyers are stepping in ahead of a possible upward move [1]. A break above this consolidation range could trigger a rally toward $0.034–$0.036, with some analysts noting that $0.038–$0.040 could be the next target should the momentum continue [1]. These levels are considered natural resistance points, historically attracting profit-taking activity.

Conversely, a daily close below $0.028 would invalidate the buy signal and expose $PENGU to further downside risk, potentially dragging the price toward $0.026 [1]. Analysts, including Ali (@ali_charts), emphasize that the signal is tactical rather than a long-term reversal and recommend using the invalidation level as a stop-loss point to manage risk [1]. This approach allows traders to capitalize on potential short-term gains while limiting exposure to unexpected volatility.

Currently, $PENGU is trading at $0.0317, having gained 5.79% in the last 24 hours despite the broader weekly decline. With a daily trading volume of $455.79 million, the token is attracting attention from active market participants seeking to capitalize on the developing pattern [1]. While the TD Sequential indicator does not guarantee a sustained rally, it has provided a clear framework for positioning and risk management [1].

Source: [1] PENGU Signals Buy as Price Holds Above Key Support (https://coinmarketcap.com/community/articles/68a7a5eefa5b2774929b8f64/)