PENGUUSDT Crumbles on 140M Volume Spike, RSI Hits Oversold

Summary
• Price opened at 0.009825 and closed at 0.009425 after a bearish 5.1% drop.
• Key support appears at 0.009375, while resistance forms near 0.0097–0.0098.
• Volume surged above 140 million at 16:15 ET, coinciding with a sharp decline.
• RSI dropped below 30, suggesting potential oversold conditions.
• Bollinger Bands widened late in the session, indicating rising volatility.

The Pudgy Penguins/Tether (PENGUUSDT) pair opened at 0.009825 on 2026-01-24 at 12:00 ET and closed at 0.009425 on 2026-01-25 at 12:00 ET. The 24-hour high was 0.009948, and the low was 0.009611. Total volume reached 140,081,402, with turnover of approximately 1,329,124.78 USDT.

Structure & Formations

Price formed a bearish continuation pattern during a 5-hour span from 16:15 to 20:15 ET, where a sharp bearish trend broke below prior support levels. A notable deep green candle at 16:15 ET confirmed the breakdown, closing near the session low at 0.009392. This move suggested a shift in short-term sentiment, with a potential bearish bias toward the next support at 0.009358.

Moving Averages

On the 5-minute chart, the 20-period and 50-period moving averages both turned downward during the critical breakdown phase, confirming the bearish move. On a daily time frame, the 50-period MA sits above the 100- and 200-period lines, indicating a broader neutral to slightly bearish bias.

MACD & RSI

MACD turned negative sharply after 16:00 ET and remained below the signal line, reinforcing bearish momentum. RSI dropped to 28 during the session low, hinting at oversold territory, though it has not yet triggered a strong reversal signal.

Bollinger Bands

Volatility expanded as Bollinger Bands widened after 16:00 ET, aligning with the sharp price drop. Price closed near the lower band at the 24-hour mark, consistent with a strong bearish move and potential for further short-term correction.

Volume & Turnover

Volume spiked dramatically at 16:15 ET with 140 million contracts traded, the highest in the 24-hour period. This was paired with a 1.32 million USDT turnover, the largest single-candle volume and turnover, confirming the bearish breakdown.

Fibonacci Retracements

Applying Fibonacci levels to the key 5-minute move from 0.009825 to 0.009948, price found brief support at 61.8% (0.009856) and 38.2% (0.009894). On the daily chart, 61.8% of the move from 0.009825 to 0.009948 sits at 0.009894, coinciding with the previous high.

The market appears to be in a consolidation phase after a sharp sell-off, with price finding temporary support near 0.009375–0.009425. A breakout above 0.0097 could signal a potential rebound, while a breakdown below 0.009358 might extend the bearish trend. Investors should closely monitor volume and RSI behavior for signs of exhaustion or reversal in the coming 24 hours.