$PENGU USDT – BEARISH REVERSAL AFTER REJECTION FROM $0.04660

FAILED TO HOLD GAINS ABOVE RESISTANCE

STRONG SELLING WICKS CONFIRM PROFIT-TAKING

$PENGU surged to $0.046608 but failed to maintain momentum, forming a clear rejection wick and multiple bearish candles on the 1H chart. Price has now dropped to $0.043560, breaking near-term support and indicating a shift in short-term trend.

The structure shows early signs of distribution, and unless bulls reclaim $0.04460 soon, downside pressure could continue toward $0.04230 and $0.04100.

Bearish Trade Setup:

Short Entry: $0.04360 – $0.04420

Targets: $0.04230 / $0.04100

Stop Loss: $0.04540

Outlook: The sharp rejection and lower high formation suggest a local top is in. Watch for continuation to the downside if $0.04230 breaks.

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