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: $0.0132
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$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