Potential Short Trade Opportunity: $PENGU /USDT š„šÆ
Analysis:
The price is testing a strong support zone around $0.03620-$0.03650, as highlighted in the chart. Repeated tests of this level suggest a potential breakdown if bearish pressure increases.
Entry Point:
Place a short entry below $0.03600 for confirmation of the breakdown.
Take-Profit (TP):
ā¢ TP1: $0.03550
ā¢ TP2: $0.03500
Stop-Loss (SL):
Set your stop-loss at $0.03680 to manage risk effectively.
Risk-Reward Ratio:
Maintain at least a 1:2 risk-to-reward ratio for an optimized trade setup.
Strategic Note:
Monitor volume; a high-volume breakout below $0.03600 strengthens the bearish case. Stay disciplined with your SL to avoid unnecessary losses!
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