The Pudgy Penguins ($PENGU) token is showing promising signs of a potential breakout, holding above key support level of $0.03 as market sentiment strengthens. Analysts predict a further surge to new highs once wave w5 completes, with the current price action hinting at a bullish trend. 📈
Crypto analyst Bluntz highlights that PENGU has not yet finished its macro cycle and suggests an upcoming price surge.
Lennaert Snyder agrees on the strength of $PENGU’s support level at $0.03, but acknowledges potential dips below this mark, creating opportunities for long positions.
Here’s a quick breakdown of the current market activity:
* **Bullish Momentum:** The token has bounced back from a downtrend and shows strong momentum with prices above 5, 10, and 20-hour moving averages. This indicates a potential shift in momentum and a favorable risk-to-reward ratio.
* **Technical Analysis:** The RSI is neutral, indicating no extreme buying or selling pressure. The MACD displays bullish momentum along with increased trading volume.
The market activity offers hope for continued upward movement as key support levels at $0.0310 hold strong and resistance level at $0.0330 remains a potential hurdle to overcome.
* **Market Update:** The live Pengu price today is $0.030871, with a 24-hour trading volume of $494 million. The token has experienced a 2.93% decrease in the last 24 hours, suggesting potential for increased volatility.
Disclaimer: This information is for general market commentary and not investment advice.
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