$PENGU — Long Liquidation Reset | Bullish Structure Intact
Liquidation Update
Long positions worth $1.86K were liquidated around $0.01227, flushing out weak leverage and resetting short-term positioning. This type of sweep often clears the path for a healthier continuation.
Market Structure
Price is stabilizing post-liquidation, suggesting selling pressure is being absorbed rather than extended. As long as demand holds, the broader bullish breakout structure remains valid.
Key Levels
Support: $0.0122 – $0.0118
Resistance: $0.0129 → $0.0138
Bullish Trade Setup
Entry:
Break and acceptance above $0.0129, or
Strong reclaim and hold from the $0.0122 support zone
Targets:
TP1: $0.0138
TP2: $0.0150
Stop Loss: Below $0.0115
Market Sentiment
The liquidation event cleared weak longs and improved risk conditions. If buyers continue to defend support and volume expands through resistance, momentum can rotate back in favor of bulls.
Bias
Bullish bias strengthens on acceptance above resistance, while structure remains intact above key support.
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