$PENGU Short Liquidation Update
A total of $8.837K was liquidated at the price of $0.03818. This indicates bullish momentum as shorts were squeezed.
What’s Next?
The recent short liquidation shows buyers are stepping in and pushing prices higher. Here’s what you need to know:
Buy Zone
Consider entering around $0.03650 - $0.03750 for a safe and potential retracement area.
Target Levels
Target 1: $0.04000 (short-term profit level)
Target 2: $0.04500 (mid-term resistance level)
Target 3: $0.05000 (long-term breakout level)
Stop Loss
Place your stop loss at $0.03550 to minimize risk if the price reverses.
Key Insights
Volume Spike: The liquidation indicates strong buyer interest, so the trend might continue upwards.
Market Sentiment: Watch for additional bullish signals like higher lows or positive news.
Risk Management: Never invest more than you can afford to lose.
Keep monitoring the market and adjust your strategy accordingly. Remember, patience and discipline are the keys to successful trading!