Binance PENGUUSDT 1d Trend Prediction

PENGUUSDT has experienced recent sharp price fluctuations, currently dropping below the lower band of the Bollinger Bands. Combined with the narrowing Bollinger Bands bandwidth and negative percent_b, short-term weakness and consolidation are likely to persist. Technical indicators such as MACD and RSI are all in the downward zone, indicating that the downward momentum has not yet been exhausted. Short-term rebound potential is limited, and the probability of oscillating downward is higher than a strong rebound. Regarding bullish and bearish indicators, although large-volume long positions dominate, the main force's bullish activity has not ignited widespread enthusiasm. The bearish forces remain strong, and the active buy/sell ratio being less than 1 indicates shorting is the prevailing trend. The persistent negative funding rate further reinforces the bearish outlook, suggesting that leveraged funds are also engaged in short suppression. Looking at the historical candlestick data, despite relatively large trading volume, frequent short-term surges followed by declines, with repeated breaches of recent support levels. The current primary support is around 0.020. If this level is broken, it could test 0.009252 or lower. The market exhibits significant volatility and amplitude, with an overall trend remaining bearish. In the event of a short-term technical rebound, chasing the rally is not advised. It is recommended to remain on the sidelines or reduce positions on rallies. Operational recommendation: If positions are heavy, strict stop-loss is advised. If the rebound shows weakness, consider gradually closing short positions within the 0.023000~0.020000 range, with a stop-loss set at 0.024500. Should there be an unexpected breakthrough above the middle Bollinger Band, the bullish hypothesis needs to be reevaluated. The expected trading range in the next 24 hours is approximately 0.020000-0.023000. Attention should be paid to the strength of support levels below and the overall market sentiment of funds.