$PENGU has taken a small support at 60-61 zone. It’s going for another attempt at the downward trendline resistance. Break out from this will likely push it towards the 68-70 zone
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Esam_Trading
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$PENGU is now up from 6176 and trading at 6411 since weekly analysis was posted. Now, it is hitting the 4H downward resistance line.
With bullish divergence being formed on every higher timeframe are frame, RSI and MACD also showing weakened sellers momentum and green candles are depicting strength of buyers re-appearing in the market.
I’m expecting the buyers pressure to appear and break the downward resistance line and take off to our levels marked earlier to grab short liquidity. There’s huge amount of shorts liquidity present at those levels.
With bullish divergence being formed on every higher timeframe are frame, RSI and MACD also showing weakened sellers momentum and green candles are depicting strength of buyers re-appearing in the market.
I’m expecting the buyers pressure to appear and break the downward resistance line and take off to our levels marked earlier to grab short liquidity. There’s huge amount of shorts liquidity present at those levels.
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