Can PENGU avoid an 18% pullback ? – Watch out for THESE 2 signs

Key Points

1. PENGU rallied 16% to $0.0426, nearing a key resistance level of $0.0436, where it previously faced an 18% rejection.

2. On-chain data shows $2.03 million in net exchange inflows, indicating potential selling pressure and downside momentum.

3. The long/short ratio dropped to 0.95, with short positions (51.06%) outnumbering long positions (48.94%).

4. Despite bullish short-term trends, failure to break above $0.0436 could trigger profit-taking and a drop to support around $0.038.

5. Chaikin Money Flow stands at +0.10, indicating continued capital inflow, but resistance remains a critical hurdle.