The Trust Layer for Market Analysts

This is an analysis of the PENGU/USDT pair using a 1-hour timeframe. The analysis suggests that a fourth wave may have bottomed in early September at around 2.7 cents, which is the invalidation point. The analyst is suggesting a 1-2 setup, a possible Elliot Wave pattern where a third wave rally could lead to recovery and a target of 7 cents. The video notes that the wave 3 rally looks like that. Resistance for a B wave can extend to 138% retracement of the A wave, around 4 cents. If the price drops below 2.9 cents, upside follow-through becomes less probable, suggesting a potentially larger wave 4 and requiring a reinterpretation of the chart. The overall outlook is bullish as long as the price maintains above the 2.96 cent level.