While overall attention is focused on the loudly rising assets, $PENGU is showing classic signs of fatigue. It is not collapsing in panic, but quietly and methodically losing positions, like air from a slowly deflating balloon.
On the daily chart, the overall sentiment remains bearish, and the current 'breather' on the 4-hour timeframe increasingly resembles redistribution rather than preparation for growth. The price is stuck in a narrow corridor just below the recent maximum, and its 'pulse' (RSI) on smaller timeframes shows no enthusiasm for a jump upward. It seems like a situation where everyone who wanted to buy has already bought, and no new buyers are appearing.
The logic of the short here is to play for the continuation of the already established daily trend, using the current weakness and indecision of the price. The entry zone $0.008736 – $0.008816 is exactly the area where buyers should have shown strength to change something. If they do not, the most likely scenario becomes a smooth slide down.
Practical plan:
Entry: $0.008736 – $0.008816 (selling on weakness in the resistance zone).
Targets:
TP1 — $0.008537
TP2 — $0.008458
TP3 — $0.008299
Stop-loss: $0.009015 (if the price manages to update the maximum, the idea is incorrect).
Sometimes the strongest movement is not a sharp collapse, but a quiet, persistent slide down that no one notices until it is too late.
What signal will finally convince you that the sellers' pressure is real: the price fails to return above $0.008800, or the appearance of the first noticeable red candle on increased volume?