PENGU outflows top $2.4 mln: What traders should watch for next

• Pengu has regenerated support of $ 0.013 and now trades $ 0.01351, facing a strong resistance for $ 0.018.
• Disposal and techniques emphasize the critical resistance of $ 0.018 as an escape of the trigger zone.

Pudgy penguins [PENGU] He continued his bull reflection after the overturning of the SuperTrends indicator and gained the soil above the support zone of $ 0.013.

MEMECOIN has demonstrated resistance despite the recent pullbacks, while traders carefully monitored $ 0.018 resistance.

At the time of writing, the Pengu traded for $ 0.01351, reflecting a 3.97% drop in the last 24 hours.

However, the ascending trend remains intact and escape over $ 0.018 could send a price towards the Fibonacci level of $ 0.025, which strengthens the bull momentum.

Silent confidence in Penguin?

May 15, PENGu recorded drains $ 16.12 million against the inflow of $ 13.73 million. This net drain of $ 2.39 million reflects continuing accumulation because investors continue to withdraw from the stock exchanges.

Historically permanent outflows tend to reduce sales pressure and create favorable conditions for prices.

In addition, a peck derivatives The market has seen a remarkable increase.

The volume of trading increased 177.07% to $ 1.05 billion, while the open interest increased by 6.9% to $ 124.03 million.

However, a slower increase in open interest compared to volume suggests short -term speculation without long -term beliefs. As a result, traders can be careful despite recent dynamics.

Therefore, the lack of a significant obligation in open interest shows that the wider market is waiting for confirmation before taking larger directional bets.

Trap for bear traders?

Interestingly, long disposal was $ 390.03,000, which much exceeds $ 30.63,000 in short disposal.

Replaces such as binance and bybit have noticed the most long losses, suggesting that the bulls have been captured by a minor drop in prices.

This increase in long liquidation signals reduced the buyer’s beliefs around $ 0.018.

This rejection thus emphasizes the importance of this resistance. Buyers must show strength over this zone to regain control and prevent further pressure of the disadvantages.

Despite the recent rally, binance financing rates dropped to -0.02069%, reflecting the persistent bear bias in the derivative market.

Traders are still willing to pay for short positions and show hesitation to accept ongoing upstrre.

This means that negative financing rates sometimes precede short cats, especially if price trends up and shorts offside.

Do they equalize the technical techniques of peck for a larger escape?

Technical techniques continue to compete in favor of the bull continuation.

Parabolic Sar Dots hitchhiking just below the price and offer dynamic support around $ 0.0175. The directional movement index (DMI) shows a clear distortion up, with DI+ at 25.93 significantly above the DI- at 15.88.

Meanwhile, ADX reads 25.33, confirming the presence of a strengthening trend. This combination suggests that buyers get traction.

Therefore, if the bulls manage to turn a resistance of $ 0.018, the momentum could stand up quickly and drive the peck to extend the fibonacci $ 0.025.

The peck is constantly building a bull case with a consistent outflow, rising volume and favorable technical technical techniques.

While long disposal and negative financing suggest uncertainty, they also create fuel for potential escape.

If Bulls convincingly receives $ 0.018 regeneration, the momentum could speed up and send a peck to a Fibonacci target of $ 0.025.