$PENGU short played exactly as planned.

Clean breakdown… and it’s bearish.

$PENGU formed clear lower highs under a descending trendline, rejected twice at the top (those marked zones), then finally lost horizontal support around 0.00688. That level was holding structure once it broke, sellers stepped in aggressively.

Now price is sitting near 0.00675 after a strong impulsive drop. Structure shows:

• Descending trendline intact
• Support flipped to resistance
• Strong bearish momentum candle
• No strong demand zone immediately below

As long as price stays below 0.00688–0.00700, this remains bearish continuation.

Possible scenario:
Minor consolidation → small pullback into broken support → rejection → continuation toward 0.00650–0.00640 liquidity area.

Trade idea (short bias):
Entry: 0.00685 – 0.00695
TP: 0.00650 / 0.00640
SL: Above 0.00705

Momentum is with sellers right now. Until structure shifts, dips are likely continuation not reversal.
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{spot}(PENGUUSDT)