Is PENGU ready for a bullish breakout after recent price dip?
The post Is PENGU ready for a bullish breakout after recent price dip? appeared on BitcoinEthereumNews.com. Key Takeaways Pengu’s Open Interest surged 23.39% to $461.98 million, reflecting strong speculative positioning. Meanwhile, Spot Taker CVD shifted to neutral, easing bearish pressure and hinting at balance. Pudgy Penguins [PENGU] has shown a consistent market rhythm, where every explosive rally has been followed by sharp corrections before recovering again. At press time, the token traded at $0.03687, up 8.77% in the last 24 hours, reflecting renewed investor interest. This repeating cycle highlights a behavioral trend in both retail and institutional positioning. Therefore, traders are closely watching for the next surge, as past patterns have often preceded aggressive upward moves after each reset. The question now is whether this fresh rebound marks the beginning of another breakout leg. Source: X/Ali Charts Open Interest surge signals rising market appetite Open Interest (OI) has increased by 23.39%, reaching $461.98 million, at press time, a sign of heightened speculation and deeper capital inflows into PENGU derivatives. This significant jump shows that traders are re-engaging aggressively, likely positioning for the next volatile move. Moreover, such a rise indicates growing liquidity, which often amplifies price swings in both directions. However, the sustained growth favors bullish setups, as capital entering long contracts has outweighed short-side interest. Thus, this metric strengthens the case for another explosive cycle if momentum persists and market demand continues accelerating. Source: CoinGlass Shorts feel the squeeze as liquidation data shifts Liquidation data underscores a growing imbalance between short and long positions, with $583.86K wiped out from shorts against only $120.53K from longs. This trend suggests bears are being forced to exit as price action continues to rise, further supporting bullish market pressure. Moreover, repeated short liquidations often fuel upward spikes, as forced exits drive momentum higher. However, the fact that longs remain relatively stable suggests traders are cautiously confident. Therefore, this imbalance…
The post Is PENGU ready for a bullish breakout after recent price dip? appeared on BitcoinEthereumNews.com.
Key Takeaways Pengu’s Open Interest surged 23.39% to $461.98 million, reflecting strong speculative positioning. Meanwhile, Spot Taker CVD shifted to neutral, easing bearish pressure and hinting at balance. Pudgy Penguins [PENGU] has shown a consistent market rhythm, where every explosive rally has been followed by sharp corrections before recovering again. At press time, the token traded at $0.03687, up 8.77% in the last 24 hours, reflecting renewed investor interest. This repeating cycle highlights a behavioral trend in both retail and institutional positioning. Therefore, traders are closely watching for the next surge, as past patterns have often preceded aggressive upward moves after each reset. The question now is whether this fresh rebound marks the beginning of another breakout leg. Source: X/Ali Charts Open Interest surge signals rising market appetite Open Interest (OI) has increased by 23.39%, reaching $461.98 million, at press time, a sign of heightened speculation and deeper capital inflows into PENGU derivatives. This significant jump shows that traders are re-engaging aggressively, likely positioning for the next volatile move. Moreover, such a rise indicates growing liquidity, which often amplifies price swings in both directions. However, the sustained growth favors bullish setups, as capital entering long contracts has outweighed short-side interest. Thus, this metric strengthens the case for another explosive cycle if momentum persists and market demand continues accelerating. Source: CoinGlass Shorts feel the squeeze as liquidation data shifts Liquidation data underscores a growing imbalance between short and long positions, with $583.86K wiped out from shorts against only $120.53K from longs. This trend suggests bears are being forced to exit as price action continues to rise, further supporting bullish market pressure. Moreover, repeated short liquidations often fuel upward spikes, as forced exits drive momentum higher. However, the fact that longs remain relatively stable suggests traders are cautiously confident. Therefore, this imbalance…
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