- According to the TD Sequential, the PENGU price may reverse soon.
- Resistance areas for traders are often highlighted with Fibonacci levels.
- There is a forecast that $0.025 could become the price for KHEC over the next five months.
Recently, analyst Ali tweeted that there are signals suggesting the cryptocurrency PENGU might bounce back. In Ali’s opinion, the minor fall in PENGU has finished, and a technical indicator called the TD Sequential has now turned into a buy signal on the 4-hour chart.
For traders paying special attention to the altcoin, this is signaling that a positive trend may be forming.
PENGU’s Movement Before the Buy Signal
Many people in the trading world rely on the TD Sequential indicator to predict when market trends might reverse. In such a case, you will see a “9” candle, which normally means a short decline has finished and the market could start increasing.
After the “9” candle, a green “3” appears, which usually backs up the bullish signal by hinting that the price is expected to rise.
Source: X @ali_charts
The chart in the tweet shows PENGU went down from $0.017 all the way to $0.0118. Still, after the drop, a bunch of white (bullish) candles appeared, indicating that buyers were becoming more active.
The TD Sequential indicator is confirming that the price drop has ended and that the number of bulls might be rising now.
The Mid-term Target for PENGU is Looking Promising
The addition of Fibonacci levels on the chart fully explains the retracement movement. The levels are important to traders as they guide them in predicting where the price will experience resistance or support. As PENGU is at $0.0128, there are significant Fibonacci levels that lie ahead.
If the pricing trend remains intact and traders keep buying, making new highs at $0.0143 (at the 0.786 level) may be possible.
As per Ali, PENGU should achieve its mid-term goal of $0.025, which is much higher than current levels. If the market mood improves, the target implies that the price can rise by close to 100%.
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