$PENGU Short Liquidation Update

A significant short liquidation worth $8.1679K occurred at a price of $0.03446.

This indicates strong buying pressure around this zone, possibly signaling the end of a downtrend or the start of bullish momentum.

What’s Next for $PENGU.

After such liquidations, markets often show increased volatility.

Here's a detailed analysis for your next steps:

Key Levels for $PENGU.

Buy Zone:

$0.0325 - $0.0345

This zone offers a favorable risk-to-reward entry.

The price may consolidate or bounce here as it aligns with the recent liquidation point.

Target Levels:

Target 1: $0.038

Short-term traders can book partial profits here, as it's the nearest resistance.

Target 2: $0.042

A stronger rally may push $PENGU to this level.

Target 3: $0.048

If momentum continues, this would be an extended target.

Stop Loss:

$0.031

Place a stop-loss below this level to limit your downside risk.

If the price drops below this, the bullish trend could fail.

Tips for Traders

1. Watch Volume: Ensure the upward movement is backed by strong trading volume.

2. Market Sentiment: Check for news or community sentiment that might influence $PENGU price.

3. Risk Management: Avoid over-leveraging; always trade with funds you can afford to lose.

Conclusion.

The short liquidation at $0.03446 signals a potential shift in momentum.

However, patience and disciplined trading are key.

Keep an eye on the above levels, and adjust your strategy as the market evolves.

Disclaimer: This is not financial advice. Always do your own research before investing or trading.

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