Binance PENGUUSDT 1d Trend Prediction

Observing the candlestick chart, PENGUUSDT is currently in a downtrend phase, with recent rebound strength weak, and the price has not broken through the moving average lines MA5 to MA50, maintaining an overall downward movement. Operating near the lower band of the Bollinger Bands, with percent_b at only 0.129052, the short-term price lacks support and shows a continued downward exploration demand. There is still room before reaching the next major support level S1 (0.009252), but in the short term, support may be sought between 0.0245 and 0.028. The MACD still shows a death cross, indicating a downward trend with no signs of convergence, continuously suggesting a bearish signal. Both RSI and KDJ are below the midpoint and have not formed a bullish divergence, further confirming a weak market environment. Trading volume and active buy/sell ratio, as well as transaction momentum, show no significant anomalies or reversal signs. Bearish sentiment dominates the market, with DMI and ADX jointly confirming trend strengthening. Although large traders’ long positions ratio is relatively high, indicating some funds are attempting to buy the dip, this does not constitute an effective bullish reversal and may easily lead to a choppy downward pattern. It is expected that in the next 1 day, the price will oscillate downward, with focus on the 0.0245-0.028 range. If this range is broken downward, it will move towards the S1 support level. In the short term, risk of bottom fishing should be avoided; wait for bottom confirmation signals before considering a bullish strategy. Operational suggestion: mainly cautious observation or short-term short positions. If the price stabilizes around 0.025, a partial closing of short positions or profit-taking could be appropriate. Strongly recommend setting stop-loss at 0.03 to prevent false breakouts from rebounds.