$PENGU is currently trading at $0.027246, consolidating near its recent high of $0.028746. The price movement indicates a possible breakout if it surpasses key resistance levels or a pullback if support levels are not maintained.
Trade Setup
Long Position:
Entry: Above $0.028800 (breakout confirmation)
Stop Loss (SL): $0.027200
Take Profit 1 (TP1): $0.030000
Take Profit 2 (TP2): $0.031500
Short Position:
Entry: Below $0.026800 (breakdown confirmation)
Stop Loss (SL): $0.027500
Take Profit 1 (TP1): $0.025500
Take Profit 2 (TP2): $0.024500
Technical Analysis
The current consolidation near the recent highs, coupled with rising volume, suggests a potential breakout. A strong move above $0.028800 could lead to further gains toward $0.030000 or higher. However, if the price drops below $0.026800, it may result in a deeper pullback to lower support levels.
Traders should closely monitor the price action for confirmation of a breakout or breakdown and set tight stop losses to manage risk during this range-bound phase.
