My perspective on $PENGU : structure before, hype after.
Keep it simple, stick to the chart:
After a strong pump, $PENGU hit the resistance zone and was sharply rejected. Since then, the structure has clearly shifted to bearish: continuously lower highs, each bounce is being sold down.
The most important point right now:
The price is sitting on a large demand/base area right around the current zone. This area has previously supported the price, and now the price is moving sideways here. This often indicates that selling pressure is gradually weakening, but does not confirm that buying pressure is strong.
This is not a breakout zone, and it is also not a place to chase.
The next scenario depends on confirmation:
• If support holds and PENGU starts reclaiming higher levels → a relief bounce to the next resistance zone may occur (a “normal” retracement after a downtrend).
• If the base breaks cleanly → the price may go lower before truly bouncing back, and at that point there is only one word: patience.
Conclusion:
• Previous trend: bearish
• Currently: at strong support
• The risk of buying here is much lower than buying at the peak
• This is not a panic sell zone — this is a wait for confirmation zone
Or PENGU builds a base and then moves up step by step…
Or breaks support and goes down further.
No guessing. Let the chart decide.
Will you wait for the reclaim signal to enter on confirmation, or do you want to catch the bottom right at the base and accept the risk if support breaks?
