Potential Short Trade Opportunity: $PENGU /USDT 🔥

Analysis:

The price is currently testing a significant support zone between $0.03620 - $0.03650. Multiple tests of this level indicate potential weakness, with a breakdown likely if bearish momentum increases.

Entry Point:

Consider entering a short position below $0.03600, confirming the support breakdown.

Take-Profit (TP) Targets:

TP1: $0.03550

TP2: $0.03500

Stop-Loss (SL):

Place your stop-loss at $0.03680 to protect against unexpected reversals.

Risk-Reward Ratio:

Ensure a minimum 1:2 risk-to-reward ratio to optimize profitability while managing risk.

Strategic Notes:

Monitor Volume: A high-volume breakout below $0.03600 strengthens the bearish case.

Discipline is key: Stick to your stop-loss and avoid overleveraging.

Watch for any macro or market sentiment shifts that could impact momentum.

Current Price: $0.03606 (+2.22%)

Prepare for potential volatility as market sentiment evolves.

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