$PENGU Long Liquidation Shockwave! Bulls Face a Setback!
A significant $1,129.9 worth of PENGU long positions were liquidated at $0.03723, signaling increased selling pressure and putting bulls on the back foot.
This liquidation could indicate a possible trend reversal or a temporary cooldown after recent bullish momentum.
Key Details:
Liquidation Amount: $1,129.9
Liquidation Price: $0.03723
Market Context: The liquidation suggests a failure to hold key support levels. Bearish sentiment may be building as buyers lose ground.
Next Move:
For Bears (Short Traders): If $PENGU breaks below $0.0365, it could accelerate toward lower support levels like $0.035 or $0.033.
Watch for weak bounces to enter short positions.
For Bulls (Long Traders): Wait for consolidation above $0.037 before entering new longs.
A bounce back above $0.038 with strong volume could signal renewed bullish momentum.
Suggested Stop-Loss:
For Longs: Place a stop-loss near $0.0365 to minimize downside risk if the price breaks lower.
For Shorts: Protect your position with a stop-loss above $0.0385 in case of a sudden bullish recovery.
The market is at a critical point—$PENGU traders should stay vigilant for a decisive move in either direction!