$PENGU /USDT Trading Signal: Will the Slide Continue? 🚨

Signal Type: Short

Entry Range: $0.03270 - $0.03300

Take-Profit Targets:

TP1: $0.03170 (Initial)

TP2: $0.03120 (Extended)

TP3: $0.03050 (Aggressive)

Stop-Loss: $0.03420

Technical Analysis

The $PENGU /USDT pair has shown persistent bearish pressure after facing rejection at $0.03557. The price is currently trading below its 7-period MA and 25-period MA, signaling downward momentum.

Key Levels to Watch:

Resistance Zones:

Immediate: $0.03420

Major: $0.03557

Support Levels:

Initial: $0.03170

Major: $0.03050

Indicators Overview:

1. Moving Averages: Downtrend confirmed by MA crossovers.

2. MACD: Bearish crossover indicating continued selling pressure.

3. RSI: Trending below neutral, showing increased bearish momentum.

Market Observation

The $PENGU price has shown difficulty in breaking key resistance zones, indicating weakness among buyers. A close below $0.03250 could accelerate the downtrend toward the $0.03050 level. On the flip side, any sustained move above $0.03420 could invalidate this short setup.

Trade Management Tips

Secure Partial Profits: Take partial profits at TP1 and move your stop-loss to breakeven to minimize risk.

Risk-Reward Focus: With a solid risk-to-reward ratio, this trade offers attractive potential returns.

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