Recently, the PENGU encryption cryptocurrency market has shown weak performance, with prices falling for seven consecutive days, causing the vast majority of holders to currently be in a state of loss. However, as market panic spreads, the scarce trading in the range of 0.028 to 0.030 may actually become a potential risk for short sellers.

From a market structure perspective, 0.03736 is a key price level, with about 164 million tokens forming resistance above. The range of 0.03086-0.03130 is the primary defense line for the bulls, where a large amount of trading has occurred. The range of 0.04211-0.04277 may trigger short covering. It is worth noting that the trading volume in the ranges of 0.02870-0.02956 and 0.04472-0.04623 is extremely low, and prices may pass through quickly.

Currently, the price of PENGU has fallen to the lower boundary of the main trading range, and technical indicators show that it has entered an extremely oversold state. From a market cycle perspective, it may currently be at the end of the downward channel and is likely about to enter a consolidation phase.

For trading strategies, you may consider the following options:
1. Aggressive traders can look for entry opportunities around 0.0290, but must set strict stop-losses.
2. Conservative investors may wait for the price to rise to 0.0313 and stabilize before considering entry.
3. Conservatives should wait for clearer signals of an upward trend, such as a daily line breaking through the moving average with significantly increased trading volume.

It is important to be particularly cautious. If the price falls below 0.0273 with high trading volume, it may trigger a new round of decline, and one should adopt a wait-and-see attitude.

Overall, although PENGU has performed poorly recently, market structure analysis indicates there may be a rebound opportunity. Investors should carefully formulate trading strategies based on their own risk tolerance.