$PENGU Short Liquidation Alert
$1,338.5 worth of shorts just got liquidated at the critical level of $0.034358
The bulls are making waves, pushing the price higher and leaving short traders in the dust
Key Details
Asset PENGU
Liquidation Type Short
Liquidation Value $1,338.5
Liquidation Price $0.034358
What Does This Mean
A short liquidation happens when the price surges beyond the tolerance level of traders betting on a decline, forcing them to close their positions.
This event signals bullish momentum, as upward pressure wipes out bearish positions
Market Insight
The $0.034358 level could now act as a strong support zone, with potential for further upside if buying pressure persists.
However, if momentum stalls, the market might test this level again, so tread carefully
Advice for Traders
Watch for volume spikes and price action near $0.03447 to gauge market sentiment.
Consider your risk management strategies, as volatility is expected to remain high.