PENGU | Time for a Pullback

PENGU has experienced a parabolic rally, but the technical setup suggests a pullback is imminent. The RSI is approaching overbought territory, indicating exhausted bullish momentum. I think it will go way higher in the long term but now it's time for a pause.

Key Technical Observations:
Price has broken above the red resistance zone around $0.029
RSI nearing overbought conditions signals potential reversal
Parabolic move lacks healthy consolidation patterns
Strong gap between current price and support levels

Expected Pullback Target:
Primary support: Green zone around $0.024

Risk Factors:
Meme coin volatility can extend moves beyond rational levels
Strong momentum could push price higher before correction
Market sentiment can override technical indicators

The technical structure favors a retracement to retest previous resistance as support, providing a healthier base for future moves.