$PENGU is currently in the "death zone" after a long downtrend.
The distribution cycle → decline has nearly completed, and the price is now being compressed close to the historical support zone — exactly where it used to be the starting point for previous expansion phases. The importance of this zone is immense.
On the higher time frame, the structure remains weak. But the noteworthy point is: the downward force has significantly slowed. The sellers are no longer attacking relentlessly; the price is beginning to hold its ground instead of free-falling. This is often the stage of silent accumulation when the general sentiment has become disheartened.
If this support holds, the next upward move is usually "gradual," progressing back to the old supply zones: first to the near resistance area, and only then considering a deeper retracement into the previous downward range.
Key levels to watch
Critical support: 0.0095 – 0.0100
Target 1: 0.020 – 0.022
Target 2: 0.029 – 0.030
Expansion (only when the structure reverses): 0.038 – 0.045
Invalidation
A clear daily candle close below the support zone → trade loses validity, and the risk of further decline increases significantly.
This is not a zone to chase. This is a zone to be patient.
