Can $PENGU Rebound from $0.015? TD Sequential Signals Short-Term Recovery

PENGU’s TD Sequential indicator flashed a buy signal after extended decline, hinting at potential short-term bullish recovery.

Price dropped over 50% in 90 days, testing support zones between $0.014 and $0.0127, while bearish momentum persists.

Futures activity shows high leveraged trading, with Binance long/short ratio favoring shorts, though top traders anticipate possible bottom recovery.

Pudgy Penguins (PENGU) continues to experience downward pressure after a multi-week decline, reflecting strong selling activity and investor caution.However,TD Sequential indicator flashed a potential buy signal can the crypto rebound.

TD Sequential Signals Buy After Extended Decline

The TD Sequential indicator on the 3-day PENGU/USDT chart displayed a “9” setup, marking a possible bullish reversal. Previously, a similar setup in late July correctly signaled a top before a strong downtrend began. Analysts note that the new signal could suggest sellers are losing momentum after significant price drops.

Traders often look for confirmation before entering positions, such as price closing above the previous candle’s high. Early November’s buy signal may coincide with short-term rebounds, indicating potential relief rallies in oversold conditions. Ali_charts tweeted: “TD Sequential just flashed a buy signal for $PENGU. Bottom in?” showing market interest in potential recovery.

The 4-hour chart reflects continued bearish patterns, but mild bullish divergence on RSI suggests relief rallies could appear soon. Moving averages remain downward, confirming strong short-term selling pressure.

Price Structure Shows Strong Bearish Momentum

PENGU’s price retraced through key Fibonacci levels, failing to hold the 0.618 support near $0.0228. Lower highs and lower lows indicate the downtrend continues with persistent resistance around $0.0169

Volume data suggests declining selling pressure, though bearish dominance remains. Fibonacci retracement levels highlight potential recovery zones near $0.018–$0.020, yet sustained upward movement requires breaking key resistance levels.

Market Activity Highlights Speculative Interest

PENGU’s market cap sits at $938.94M with $550.25M in futures volume. Open interest of $100.44M points to active leveraged trading, increasing short-term volatility. The Binance long/short ratio at 0.68 indicates more short positions, reinforcing current bearish bias.

Top traders hold a long/short ratio above 1.6, suggesting potential bottom-fishing strategies. The token may experience relief rallies, but downside pressure could test sub-$0.013 support if buying momentum fails. Investors monitor both futures data and technical signals closely.

Short-term recovery is possible near key support levels, but confirmation is required before trends shift. Overall, PENGU demonstrates signs of stabilization while remaining within a broader downtrend.

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