RSI Compression Signals a Possible Momentum Shift
PENGU shows a narrowing structure on its daily chart as the asset trades near the $0.010–$0.011 area. The move brings the token toward a level that previously acted as a springboard for upward expansion. Market observers now track the daily RSI as it presses toward a long-standing descending trendline.
Ali shared that the past RSI breakout led to a strong 370% move, placing extra attention on the current configuration. The chart demonstrates the RSI flattening after several months of downward pressure, creating conditions similar to those seen in late June. The moment the indicator broke resistance earlier this year, price moved sharply higher.
The price structure mirrors this setup with a broad descending channel that has guided the asset since its mid-year peak near $0.07. With PENGU revisiting levels that once attracted heavy buying interest, traders are assessing how momentum could react if the RSI clears its resistance line again.
Market Structure Tightens as Price Holds Support
As of writing, intraday movement shows PENGU trading around $0.01142 with a daily gain. The chart reflects a recovery from early-session weakness, transitioning from mild selling pressure into a steady multi-hour rise. This shift occurred without a breakdown in the broader support region.
Volume increased by more than 47% over 24 hours, suggesting renewed activity during the latest recovery attempt. The sustained climb through the latter half of the session created higher lows and consistent buying interest. These steps formed a pattern that often appears before momentum attempts to shift.
Social sentiment also played a role. A report from Crypto Henry questioned whether PENGU had completed its move from ATH back toward $0.01, suggesting that market participants were monitoring the zone closely. Although not a technical factor, such reactions often appear during consolidation stages.
Positioning Data Reveals Conflicting Trader Behavior
Long–short distribution across major exchanges shows an uneven market. Binance recorded a 0.9175 ratio, indicating heavier short exposure among retail accounts. This suggests cautious behavior as PENGU trades inside its descending structure. By contrast, OKX registered a 1.15 ratio, showing more long activity.
The most notable data comes from Binance top traders. Large-position holders posted a ratio of 1.2476, while smaller accounts remained near neutral. This indicates that experienced or high-volume traders are preparing for potential upward movement, aligning with the technical setup around the daily RSI.
The data on liquidation indicates the current volatility. Liquidations on the short side prevailed in the 1-hour range, the 4-hour range and the 12-hour range, whereas the 24-hour range showed almost equal numbers. The pattern suggests pressure on both sides as PENGU rotates near major support while attempting multiple rebounds.