I've been watching
$PENGU on the 4H and this bounce is actually pretty aggressive. We just saw it fly from the $0.0061 bottom all the way up to $0.0071, which is a solid 10% move today. It’s showing much more strength than it did during that mid-chart chop.
The breakdown
Bullish Momentum: The price action is clean—straight green candles breaking through previous local resistance. It tried to touch $0.00727 and got a tiny bit of pushback, but it’s holding high, which shows the buyers are still in control for now.
The Overbought Factor: Here’s the catch—the StochRSI is sitting at a perfect 100.00 and the MaStochRSI is right behind it at 99.85. In plain English: it’s red hot. Usually, when indicators are pinned this high, the "easy money" on the pump is already made, and we might see a consolidation soon.
Volume: We’re seeing a big increase in volume (455M on the 4H), which validates the move. This isn't just a low-cap flicker there's actual weight behind this push.
If you're already holding from the $0.0063 area, you're sitting pretty. I'd move stops up to lock in some gains. If you're looking to enter now, I'd be very careful. Buying at a 100 RSI is basically asking for a pullback to hit your stop.
I’m personally waiting to see if it can flip $0.0073 into a floor. If it fails there, I'll be looking for a re-entry closer to $0.0068 once the RSI cools down a bit. Don't chase the top of the wick let the chart settle. 🧊🐧
#PENGU #NFT #Binance #CryptoTrading #Altcoins #DYOR
$PENGU