$PENGU – TOP HEAVY? BEARISH CANDLES SIGNAL SELL-OFF RISK
REPEATED REJECTIONS NEAR $0.0375. BULLS LOSING GRIP.
$PENGU spiked impressively to $0.037488 but has since shown multiple rejection candles in the same zone. Price is consolidating with lower closes, and the wick-heavy structure suggests sellers are stepping in at the top. Despite strong early volume, momentum is fading — hinting at a possible short-term reversal if $0.03660 breaks.
SHORT Setup
Entry: $0.03690 – $0.03720
Stop Loss: $0.03760
Target 1: $0.03630
Target 2: $0.03560
Failure to reclaim $0.03720 may invite further downside. Wait for confirmation before entering short.
