PENGU: Sellers Defend Macro Trendline at Fib Demand Zone

PENGU rejected major descending resistance just below the long-term trendline, confirming sellers still control the macro structure while price retraces into the 0.5-0.786 Fibonacci zone that now serves as critical short-term demand.

Traders note the impulsive rally from the 0.0060 range low keeps current weakness corrective rather than a full breakdown, so a defense here could open the path to 0.0105, 0.0140 and potentially 0.0160+ once the broader downtrend breaks. PENGU price prediction scenarios hinge on this orange-box support holding.

Price sits at $0.01 testing the exact confluence of EMA50 and EMA200 support while MACD prints a golden cross and RSI holds neutral at 48; with price inside the Bollinger Bands, a bounce from this level toward upper-band resistance at $0.01 looks probable before any deeper test of 0.0060.