PENGU/USDT $PENGU
BULLISH BREAKOUT SETUP WITH CONTINUATION POTENTIAL
The chart structure shows a steady uptrend with higher highs and higher lows forming on the lower timeframes. Price has recently pushed toward the upper resistance zone after a strong recovery from intraday lows, indicating sustained buying interest. Volume expansion during upward moves suggests accumulation rather than distribution, strengthening the bullish outlook.
A minor consolidation just below resistance signals a potential breakout scenario. If price successfully clears the immediate resistance zone, momentum is likely to accelerate, opening the door for a continuation move toward higher levels.
LONG ENTRY: On breakout and retest of the resistance zone as support
TP1: 0.009600
TP2: 0.009900
TP3: 0.010300
SL: 0.008850
Alternatively, if the breakout fails and price loses structure:
SHORT ENTRY: On breakdown below support with confirmation
TP1: 0.008600
TP2: 0.008300
TP3: 0.008000
SL: 0.009300
Risk Management: Use strict position sizing with 1–2% capital risk per trade, avoid overleveraging, and wait for confirmation before entry to minimize false breakouts.
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