$PENGU Here’s a detailed analysis of based on the information provided about the long liquidation.
Overview of $PENGU.
Recent Event. A long liquidation of $1.0977K occurred at the price level of $0.0386.
Implication. Long liquidations often indicate selling pressure or stop loss hits from leveraged buyers. This can signal potential volatility ahead, depending on overall market sentiment and volume.
Primary Buy Zone: $0.0360 - $0.0380
This is a strong accumulation area based on liquidation and potential price retracement.
Riskier Buy Zone: $0.0386 - $0.0400
If momentum builds, prices may bounce near the liquidation level.
2. Target Levels.
Short Term Targets.
Target 1: $0.0420
This is the first resistance area where minor profit booking may occur.
Target 2: $0.0450
The next level for significant resistance based on recent trends.
Medium Term Target: $0.0500
If volume and sentiment improve, this could act as a psychological resistance.
3. Stop Loss.
Place the stop loss below the strong support zone to manage risk.
Stop Loss Level: $0.0350
This level indicates breakdown below key support.
Key Tips for Trading $PENGU.
1. Monitor Volume. Ensure sufficient trading volume for a valid breakout.
2. Market Sentiment. Keep an eye on general market trends Bitcoin dominance, altcoin movement.
3. Risk Management. Never risk more than 2-3% of your total capital per trade.
4. Patience is Key. If the price doesn't reach the buy zone, wait for better opportunities.
This setup is based on current information and market dynamics. Always research thoroughly and stay updated with news impacting $PENGU.
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