PENGU Price Nears Key Support Zone Amid Weak Momentum
- Price Fluctuation Range: PENGU's price fluctuated between $0.00634 and $0.00680 over the past 24 hours, with a current market capitalization of approximately $425.09 million and trading volume reaching $95.98 million, indicating sustained market interest in the asset.
- Support and Resistance Analysis: The current support level is at $0.00602, and failure to hold this level could lead to further downside pressure, while $0.010 remains a key resistance level for any bullish reversal attempt, with a breakout potentially improving market sentiment.
- Market Sentiment and Momentum: Despite rising open interest in the derivatives market to $61.76 million, indicating increased speculative activity, spot demand remains weak, with the RSI near 44.55 signaling insufficient momentum and limited buying strength in recent sessions.
- Trader Focus: Market participants are closely watching the $0.010 zone; a decisive breakout above this level could open a path toward $0.01323, while failure to reclaim this level may result in continued sideways movement within a narrow range, as weak inflows limit recovery strength.
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Technical Analysis for PENGU
Technical Sentiment Analysis for Pudgy Penguins (PENGU). As of , Pudgy Penguins (PENGU) is exhibiting a Strong sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 0 indicators are flashing buy, while 4 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 crypto.
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 | 0.00474 | 0.00528 | 0.00596 | 0.00651 | 0.00718 | 0.00773 | 0.00841 |
| Fibonacci | 0.00528 | 0.00575 | 0.00604 | 0.00651 | 0.00697 | 0.00726 | 0.00773 |
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