$PENGU The daily and 4-hour charts are in strong bearish convergence, with the price below all major moving averages. The hourly chart now offers an accurate entry, as it is below its 50 moving average. Momentum is accelerating downward now, with the hourly RSI in an oversold condition at 22, indicating strong selling pressure. A break below the hourly low near 0.009938 is the trigger for the next phase downward. This is a high probability continuation trade in a confirmed bearish direction.
Executable setup now (short)
Entry: market at 0.009938 – 0.010032
TP1: 0.009705
TP2: 0.009611
TP3: 0.009424
SL: 0.010266
PENGU
0.010234
-1.87%
