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ELIX

$PENGU is moving within a rising wedge, a pattern that can signal weakening bullish momentum as price continues to climb.



For now, the structure remains intact, so there's no confirmed bearish setup.

I'll only look for a short if $PENGU closes below the lower trendline with convincing volume. Until then, patience is key.

#EventContractsLaunch #SummerCreationCamp
PENGU-0.07%
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GasWhisper
· 57m ago
At the end of a rising wedge, bulls often start to lose strength, but until a breakdown is confirmed, don’t rush to short—wait patiently for volume to align.
View OriginalReply0
VibeCrew
· 1h ago
This pattern really needs to be watched closely; it’s not too late to act after it breaks below the lower band.
View OriginalReply0
StableSurfer
· 1h ago
The analysis is very clear. During a wedge breakout’s rising phase, momentum decay is a common signal, but if the structure is intact, it doesn’t count as a reversal. It’s safer to wait until the close is below the lower band and then act only when trading volume increases.
View OriginalReply0

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