$PENGU

As of May 4, 2025, Pudgy Penguins (PENGU) is trading at approximately $0.0107, experiencing a recent decline of about 12.5%.

๐Ÿ“‰ Short Trade Setup for PENGU

Technical Indicators:

Resistance Levels: PENGU is currently testing a significant resistance zone. A breakout above this level could signal a bullish move, with the first target at the green line level upon confirmation.

Support Levels: The key demand zone lies between $0.0034 and $0.0046. A close below $0.0040 would invalidate the breakout and suggest further downside.

Trade Strategy:

Entry Point: Consider entering a short position if PENGU fails to break above the resistance zone and shows signs of reversal.

Take Profit (TP): Set TP levels near the support zone, around $0.0040.

Stop Loss (SL): Place SL above the resistance zone to manage risk.

๐Ÿ”ฎ Market Outlook

While some forecasts suggest a potential price increase to $0.0449 in June 2025, indicating a bullish sentiment, the current technical indicators point towards a bearish trend. It's crucial to monitor market developments and adjust your strategy accordingly.

Note: Always conduct your own research and consider your risk tolerance before making trading decisions.