- Whale accumulations identify confidence in Pengu, even as price dips and volatility persist.
- Weighted sentiment fell to 0.3427, due to caution and limiting the price loss in the short term.
A whale recently bought 148.12 million Pudgy Pinguins [PENGU] Tokens for $ 2.25 million, making it total interest up to 509.12 million.
At the time of the press, Pengu traded at $ 0.01373, a decrease of 1.90% in 24 hours.
If the actions of the whale influence market sentiment, we could see a price increase. However, broader market conditions must coordinate to make this happen, especially with current market volatility.
Sentiment analysis – How does Sentiment correspond to price action?
The weighted sentiment for Pengu shows sharp fluctuations. At the time of writing, it fell to 0.3427, a sharp decrease in earlier highlights of 6.87.
This suggests a shift in market sentiment from optimism to caution. Despite the whale activity, sentiment still has to reflect the ongoing bullishness.
As a result, the price of Pengu has not fully recorded the positive shifts in sentiment. This decoupling indicates that although optimism exists, it needs more time to manifest itself in price growth.
Source: Santiment
Financing percentages – Are long positions signaling of the future benefit?
At the time of the press, the financing percentages were 0.005%, which suggests a mild favor for long positions at traders.
This modest speed suggests that long positions are somewhat preferred, which indicates the possible upward movement.
The financing percentage alone does not guarantee price growth. Traders must consider other statistics, such as liquidity, sentiment and price action.
Although the financing percentage offers some insight, it is therefore not sufficient to predict a substantial increase without further confirmation of other factors.
Source: Santiment
Technical analysis – Is Pengu in a breakout zone?
Technically, Pengu recently tested important resistance levels and the upper Bollinger band is approaching. The MACD shows Bullish Momentum, with the average crossing over the long -term intersection above the long -term average.
These indicators suggest that Pengu may enter a breakout zone. If the price maintains support above $ 0.015, further upward movement seems likely.
However, market volatility can cause price determination, so caution is needed. An outbreak above the most important resistance levels can cause extra purchasing pressure and expand the rally.
Source: TradingView
Pengu -Liquidity and Price Promotion – What reveals the liquidation warmth?
The 24-hour liquidation heat revealed considerable support at $ 0.0145 and $ 0.015. These levels have seen clustering of liquidations, which indicates potential pimples.
When Pengu is approaching these levels, this can cause a short pinch, which stimulates the price higher.
However, if the price falls under these support zones, further liquidations can lead to increased downward pressure.
These critical levels require close monitoring, because every break can cause increased volatility in the market underneath.
Source: Coinglass
Long/short ratio – is there potential for a short squeeze?
According to data, data on long/short ratio showed that 53.04% of the positions were short, which emphasized the prevailing Bearish bets. This imbalance suggests that a short squeeze could occur if the price rises.
When Pengu starts pushing up, short positions can be liquidated quickly, which leads to a competitive price increase. This scenario can stimulate considerable price acceleration.
That is why monitoring the long/short ratio is the key to quickly understanding potential price movements.
Source: Coinglass
Despite mutiled sentiment, whale activity, strong technical means and bearish positioning suggest a setup for a potential squeeze.
If the key resistance levels break and shorts are liquidated, Pengu can gather sharply in the coming days.
Credit : ambcrypto.com
