Massive Short Liquidation Alert.

$PENGU just witnessed a short liquidation worth $1,896.10 at an astonishing price level of $0.039616.

Traders betting against the coin have been caught off guard as the price surged to liquidate short positions, fueling further momentum. This event highlights how volatile and unpredictable the crypto markets can be.

What Does This Mean.

A short liquidation occurs when traders who borrowed assets to sell them at higher prices are forced to buy them back because the price moved against their position. In this case, the sudden price increase at $0.04056 wiped out short positions worth almost $1.9K.

Key Levels to Watch:

Support Zone: If the price pulls back, watch for a potential bounce around $0.039–$0.040.

Resistance Zone: On the upside, breaking past $0.042 could trigger another rally.

Trading Strategy:

For Buyers: Consider entering around $0.040, targeting $0.043–$0.045. Keep a stop-loss at $0.038 to minimize risk.

For Sellers: Be cautious. If the price drops below $0.039, it might indicate a bearish trend.

Pro Tip:

Liquidation events like these can create massive price swings, so always manage your risk carefully. Stay updated to capitalize on the next big move.

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