2026-01-18 17:22:51

PENGU has experienced a significant decline from its all-time high, and the double top rejection pattern indeed has a strong destructive power. However, a careful observation of the candlestick charts suggests that there are signs of a local bottom forming. The price is repeatedly testing between horizontal support and resistance, and the technical inflection point characteristics are gradually emerging. Weekends are usually characterized by light trading, which often provides an opportunity to confirm key levels. To determine whether a true reversal is underway, it is also necessary to see if subsequent trading volume can effectively follow up. If the trading volume significantly increases this week, the probability of breaking through the resistance above will greatly improve. The current key is to patiently wait for volume confirmation.

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DegenWhisperer

· 01-21 14:54

Pengu, this move really isn't interesting. The sharp decline is really frustrating, but after breaking the level, it often rebounds like this. Once the volume comes in, let's go.

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SerumSqueezer

· 01-20 07:14

Pengu's recent drop is outrageous, the double top crashing down is truly a bloodbath... But looking at the candlestick chart, it does seem like a bottom fishing? If the trading volume picks up, there might be a turnaround this week.

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MetaMaskVictim

· 01-19 10:59

The double top has a strong destructive power, but it feels like the bottom is about to come out. Let's see if this week's volume can support it.

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MetaMisery

· 01-18 17:52

The double top crash was indeed fierce, but whether this wave truly reverses depends on if the trading volume gives us some face.

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AirdropHuntress

· 01-18 17:49

Double tops are indeed not good, but the volume needs to be confirmed. The light trading over the weekend is not enough to confirm the bottom, and I am more concerned about who is selling behind this round of decline.

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OnchainGossiper

· 01-18 17:47

The double top crashing down definitely hurts a lot, but it seems like there's some improvement in the candlestick chart. The key is whether the trading volume can keep up.

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LowCapGemHunter

· 01-18 17:35

Breaking through so badly yet still showing signs of bottoming out, your optimism is impressive. With PENGU's decline, I really don't believe it can rebound without sufficient volume. Waiting for volume? Until when? Anyway, I prefer to exit first. Weekend trading was light, is that called the bottom? It looks more like a dead silence to me. Double top rejection and still looking for support? That's a bit of a gambler's mentality, isn't it?

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