Pudgy Penguins ($PENGU) Faces Bearish Sentiment Despite Expanding to Solana, Key Resistance Zones and Bearish Breakout

Pudgy Penguins’ native token ($PENGU), initially launched on the Ethereum blockchain and later expanding to Solana, has seen a recent downturn in its technical analysis, indicating bearish sentiment.

Despite being a meme coin, PENGU is a significant player in the market, and its performance could be an early indicator of the market trend.

Key Resistance Levels, Bearish Breakout

Technical indicators show that PENGU has been following a descending trendline, indicating a short-term bearish signal.

At a key resistance level around 0.0469 USDT, the price has faced multiple rejections, indicating strong seller control. On the downside, the 0.0296 USDT support zone acts as a crucial buffer. A breakdown below this level could accelerate further losses.

Currently trading at around 0.0345 USDT, the price is consolidating after recent dips, but the descending triangle pattern suggests the bearish trend will continue.

30-Minute, Daily Chart Analysis: Moving Averages, Trendlines

On the 30-minute chart, the exponential moving averages (EMAs) confirm the bearish narrative. The 20 and 50 EMAs are positioned below the longer 100 and 200 EMAs, indicating consistent selling pressure.

Short-lived recoveries were met with resistance at 0.0358 USDT, presenting opportunities for short trades.

The daily chart reinforces this trend, as recent long-wick candles show selling pressure at higher levels. The price range between 0.0375 USDT and 0.0313 USDT suggests consolidation, with volume spikes indicating accumulation or distribution phases.

Next Steps for PENGU

On the 30-minute chart, the Relative Strength Index (RSI) and MACD show a slight recovery, with the RSI approaching neutral levels. However, analysts note that the broader trend will remain bearish unless PENGU recovers above 0.037 USDT.

その後、0.046 USDTを上回って上昇すれば強気になるが、0.0296 USDTを下回って下支えできないと、0.020 USDTまで下落する可能性がある。

最近の市場パフォーマンスにおけるPENGUは、主要なレジスタンスとサポートレベルを監視することがいかに重要であるかを示している。トレーダーは0.037 USDTを上回るブレークアウトを探すか、サポートレベルが失われると下落に備える必要がある。

Solanaの拡大するコミュニティとNFTエコシステムを背景に、長期的な展望はより広い市場感情とテクニカルトリガーに左右される。

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