PENGU is currently testing a major descending trendline that has been acting as resistance since the local top. Price has respected this trendline for months, making the current area technically important.
At the same time, the market structure shows a series of higher lows forming from the February bottom, suggesting growing bullish momentum while price compresses beneath resistance.
A successful breakout above the descending trendline could shift the long-term structure and open the door for a stronger recovery move. The first major resistance levels visible on the chart are around 0.019 and 0.034.
On the downside, the 0.0057 region remains the key long-term support zone.
Summary:
Price is approaching a critical breakout area. A confirmed move above the descending trendline may trigger a larger upside expansion, while rejection would keep the broader downtrend structure intact.
Take your risk, make some profit.
- CryptoSignalAPP Team
At the same time, the market structure shows a series of higher lows forming from the February bottom, suggesting growing bullish momentum while price compresses beneath resistance.
A successful breakout above the descending trendline could shift the long-term structure and open the door for a stronger recovery move. The first major resistance levels visible on the chart are around 0.019 and 0.034.
On the downside, the 0.0057 region remains the key long-term support zone.
Summary:
Price is approaching a critical breakout area. A confirmed move above the descending trendline may trigger a larger upside expansion, while rejection would keep the broader downtrend structure intact.
Take your risk, make some profit.
- CryptoSignalAPP Team
CryptoSignalAPP is the best crypto signal application.
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Get most profitable trading signals and information about market.
Keep your risk management.
Make profit !
cryptosignalapp.com/download
Download to Earn
Get most profitable trading signals and information about market.
Keep your risk management.
Make profit !
cryptosignalapp.com/download
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Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.
CryptoSignalAPP is the best crypto signal application.
Download to Earn
Get most profitable trading signals and information about market.
Keep your risk management.
Make profit !
cryptosignalapp.com/download
Download to Earn
Get most profitable trading signals and information about market.
Keep your risk management.
Make profit !
cryptosignalapp.com/download
Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.