Crypto Update for August 20: Memecore Rises While Bitcoin Falls to 113k
Market Decline: The global crypto market experienced a decline on August 20, with the market cap falling to $3.82 trillion and Bitcoin dropping to $113,413, marking a 1.75% loss.
Trading Activity: Despite the downturn, trading volume increased by 17.27% to $190.4 billion, indicating continued investor engagement, with Bitcoin maintaining a 59.1% market dominance.
Gainers and Losers: MemeCore emerged as the top gainer with a 21.84% increase, while Pudgy Penguins faced the largest loss at 7.20%, reflecting mixed performance among cryptocurrencies.
Market Sentiment: The Fear and Greed Index is at 45, suggesting a neutral sentiment, while institutional flows remain negative, with significant withdrawals from crypto ETFs indicating caution among larger investors.
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Technical Analysis for PENGU
Technical Sentiment Analysis for Pudgy Penguins (PENGU) As of , Pudgy Penguins (PENGU) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for PENGU stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, PENGU is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Pudgy Penguins (PENGU) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00163 | 0.00345 | 0.00524 | 0.00706 | 0.00885 | 0.0107 | 0.0125 |
| Fibonacci | 0.00345 | 0.00483 | 0.00568 | 0.00706 | 0.00844 | 0.00929 | 0.0107 |
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