$PENGU Long Liquidation: $2.8032K at $0.03816
The market just delivered a heavy blow as $2.8032K worth of long positions in $PENGU were liquidated at $0.03816.
This sharp move underscores increasing bearish pressure, with bulls caught off guard.
Are sellers dominating, or could a reversal be brewing?
Key Details:
Liquidation Size: $2.8032K
Price Point: $0.03816
Market Sentiment: Bears are flexing their strength, forcing longs to capitulate as prices slide.
Next Move:
1. Identify Critical Levels: Watch $0.03750 as a potential support.
If it breaks, the next leg down could gain momentum.
2. Volume and Momentum: A surge in selling pressure could confirm further downside.
However, declining volume might hint at exhaustion, signaling an opportunity for bulls.
3. Strategize Your Position:
For bears: Target lower levels but secure gains with tight stops.
For bulls: Wait for a clear reversal signal before stepping in—patience is key.
The battle is heating up, and the next market move could set the stage for a major shift!