$PENGU ‌Current price: $0.011895



Direction: Short

Reasons:

1. Net outflow of major funds has triggered a contraction in liquidity, with open interest in the contract market declining simultaneously. Short-term buying support has weakened significantly.

2. 24H decline on low volume (-3.13%), 1-hour chart failed to break above the upper boundary of the descending channel, RSI remains below 45 in a weak zone, and MACD bearish momentum has not fully subsided.

3. Weighted funding rate in the contract market has turned negative, the proportion of leveraged short positions is rising, and coupled with a lack of effective fundamental support, the pressure for a pullback is increasing.

Support levels:

1. $0.0110 (Recent 5-day fluctuation low)

2. $0.0105 (November 30 low, strong support)

Resistance levels:

1. $0.0125 (Intraday rebound high)

2. $0.0130 (December 3 high, strong resistance)

Suggested take profit: $0.0108, stop loss: $0.0132
PENGU-10.69%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
  • Pin
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)