【$PENGU Signal】Long - 1H pullback confirmation, main force clearly defending the market

$PENGU The 1H timeframe has experienced a 15% rally and is now undergoing a healthy pullback, with the price supported above the key EMA moving averages (1H EMA20: 0.0074). The 4H timeframe has broken through the downtrend line, forming a bullish structure. Although there is significant selling pressure at the current order book, open interest remains stable, funding rates are healthy, and signs of main force defending the market are evident. The pullback presents a buying opportunity.

🎯Direction: Long (Long)

🎯Entry/Order: 0.00765 - 0.00770 (Reason: The pullback supports the 1H EMA20, which is also the 23.6% Fibonacci retracement level of the previous rally )

🛑Stop-loss: 0.00755 (Reason: Falling below the 1H EMA50 and the previous low at 0.00762 creates a resonance support zone, ATR-based stop-loss )

🚀Target 1: 0.00820 (Reason: Previous high resistance level, also the previous peak of the 4H wave )

🚀Target 2: 0.00860 (Reason: 1.618 Fibonacci extension level, indicating potential breakout space on the 4H timeframe )

🛡️Trade Management:

- Position size suggestion: Light position (Reason: Hot coins are highly volatile; pullback trading requires risk control )

- Execution strategy: After reaching Target 1, reduce position by 50% to lock in profits, and move the remaining stop-loss up to the entry price of 0.00770. If the price fails to stabilize in the entry zone and falls back, exit immediately.

Deep logic: After the rally, open interest remains stable with no significant outflow, indicating that bullish positions are not panicking and exiting. The 1H RSI(64) has retreated from overbought territory to a healthy zone, preparing for further upward movement. The order book depth shows extremely heavy buy orders in the 0.00765-0.00755 range (accumulating hundreds of millions of USD), forming a strong support wall that is difficult for bears to break through. This is a typical “uptrend - consolidation - further uptrend” strong structure, making the pullback a prime entry point.

Trade here 👇 $PENGU

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