$PENGU faces resistance, will it break down? 🐻
Given the bearish trend and the fact that $PENGU is trading below the SMA25, I think it's likely to head towards the support level of 0.0056 if it fails to break the resistance at 0.0076.
Technical check:
✅ Close price below SMA25 📉✅ Bearish trend 📊✅ Support at 0.0056
⚠️ If $PENGU breaks the resistance at 0.0076, the bearish structure will be invalidated, and we could see a move upwards.
Will $PENGU break down to 0.0056 or bounce back from the current level? 🤔
#MarketAnalysis
Given the bearish trend and the fact that $PENGU is trading below the SMA25, I think it's likely to head towards the support level of 0.0056 if it fails to break the resistance at 0.0076.
Technical check:
✅ Close price below SMA25 📉✅ Bearish trend 📊✅ Support at 0.0056
⚠️ If $PENGU breaks the resistance at 0.0076, the bearish structure will be invalidated, and we could see a move upwards.
Will $PENGU break down to 0.0056 or bounce back from the current level? 🤔
#MarketAnalysis