PENGU Tests Key Confluence Zone, Bullish Reaction ?

PENGU price action is currently trading at the Point of Control (POC), an area that aligns with both the 0.618 Fibonacci retracement and a previous daily support, forming a high-confluence region on the chart.

This zone represents a technically significant area where a potential reversal or relief bounce could emerge if bullish volume begins to increase.

- Confluence Zone: The POC, 0.618 Fibonacci, and daily support overlap to form a key inflection
point.
- Volume Watch: A spike in bullish volume could confirm the start of a reversal from this region.

For now, further consolidation around the current level would be constructive, allowing price to form a bottoming structure on lower timeframes. While this has not yet materialized, holding the POC keeps the probability of a short-term bounce alive.

PENGU remains in a critical decision area, where either a confirmed reversal or deeper continuation will be determined in the coming sessions.