$PENGU is looking weak to me right now.

It has already broken below the rising channel on the 4-hour chart.

That tells me buyers may be losing control.

The overall market also feels heavy, which could add more pressure.

Unless $PENGU quickly reclaims the channel, I think the lower support zones may come into play soon.

I’m watching the next few candles closely.

They should tell us whether this breakdown has real strength behind it.