$PENGU /USDT SHORT TRADE SETUP – BEARISH CANDLE CONFIRMS LOCAL TOP 💯 🔥
Market Structure: After a sharp rally to 0.037488, price has formed a series of lower highs and a strong red candle — indicating weakness and possible trend reversal.
ENTRY LEVEL:
Consider short entry between 0.03640 – 0.03680 if the price fails to reclaim the recent high.
STOP LOSS:
Set SL above 0.03760 to avoid getting caught in a fake breakout.
TARGET POINTS:
• TP1: 0.03580
• TP2: 0.03500
• TP3: 0.03420
TRADE ANALYSIS:
PENGU/USDT has lost momentum after touching resistance at 0.037488. The current red candle broke below minor support, indicating potential downside. Weak buyer reaction in follow-up candles adds to the bearish outlook.
Risk Management:
Wait for confirmation near resistance. Stick to defined SL and avoid overleveraging in this volatile zone.