PENGU Price Surges 8% as Analyst Sees PEPE-Style Explosion Coming
- Crypto analyst Ali Martinez compares PENGU’s current pattern to PEPE and predicts a major rally.
- MACD shows positive momentum, social sentiment hits highs, and RSI at 69.34 indicates room for further gains.
Recently, famous crypto analyst Ali Martinez went to X (previously Twitter) and made a bold claim about Pudgy Penguins (PENGU), saying that “$PENGU is beginning to resemble $PEPE prior to its explosion! A close above 0.015-0.017 per day, and this train may be unstoppable.”
This bullish feeling has drawn the interest of traders because PENGU is showing powerful technical momentum in various time frames. Moreover, as per CMC data, PENGU price is trading at $0.0156 with an intraday gain of 8% showcasing bullishness.
The recent price movement indicates that PENGU has managed to overcome the important resistance of the $0.01500 mark and is now aiming at the next significant obstacle of $0.01755. The breakout is occurring within the context of a series of bullish technical signals that are creating a more positive short-term outlook for the meme coin.
The most notable of them is the golden cross that has occurred on the 4-hour timeframe between the 50-day EMA ($0.01099) and the 200-day EMA ($0.01251). This bullish crossover is usually an indicator of the start of a long-term upward trend, as short-term sentiment dominates the long-term trends. The price action is above both moving averages and is trading strongly, showing that both institutional and retail interest are high.
What’s Next For PENGU Price?
The MACD indicator is trading in the positive zone and is showcasing bullish momentum. The histogram indicates a rise in buying pressure, which implies that the uptrend can continue to grow.
The social sentiment of PENGU is at the highest level as indicated by the social sentiment indicator, which has mostly green bars in the recent sessions. This retail interest, together with good technical indicators, gives a good background to further price gains. Meme coins are a community-based phenomenon, and social sentiment is an important determinant of price direction.
In risk management terms, traders ought to watch out for key support levels of $0.01300 and $0.01200. These levels are important technical floors that may offer buying opportunities in case of any pullbacks. With the RSI at 69.34, the token is not yet in the extreme overbought levels that would normally cause an immediate selling pressure.
As several technical indicators are bullish, and analysts compare this project to the successful meme coin predecessors such as PEPE, PENGU seems to be set to continue its existing uptrend to the target of $0.01755.
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PENGU Price Surges 8% as Analyst Sees PEPE-Style Explosion Coming
- Crypto analyst Ali Martinez compares PENGU’s current pattern to PEPE and predicts a major rally.
- MACD shows positive momentum, social sentiment hits highs, and RSI at 69.34 indicates room for further gains.
Recently, famous crypto analyst Ali Martinez went to X (previously Twitter) and made a bold claim about Pudgy Penguins (PENGU), saying that “$PENGU is beginning to resemble $PEPE prior to its explosion! A close above 0.015-0.017 per day, and this train may be unstoppable.”
This bullish feeling has drawn the interest of traders because PENGU is showing powerful technical momentum in various time frames. Moreover, as per CMC data, PENGU price is trading at $0.0156 with an intraday gain of 8% showcasing bullishness.
The recent price movement indicates that PENGU has managed to overcome the important resistance of the $0.01500 mark and is now aiming at the next significant obstacle of $0.01755. The breakout is occurring within the context of a series of bullish technical signals that are creating a more positive short-term outlook for the meme coin.
The most notable of them is the golden cross that has occurred on the 4-hour timeframe between the 50-day EMA ($0.01099) and the 200-day EMA ($0.01251). This bullish crossover is usually an indicator of the start of a long-term upward trend, as short-term sentiment dominates the long-term trends. The price action is above both moving averages and is trading strongly, showing that both institutional and retail interest are high.
What’s Next For PENGU Price?
The MACD indicator is trading in the positive zone and is showcasing bullish momentum. The histogram indicates a rise in buying pressure, which implies that the uptrend can continue to grow.
The social sentiment of PENGU is at the highest level as indicated by the social sentiment indicator, which has mostly green bars in the recent sessions. This retail interest, together with good technical indicators, gives a good background to further price gains. Meme coins are a community-based phenomenon, and social sentiment is an important determinant of price direction.
In risk management terms, traders ought to watch out for key support levels of $0.01300 and $0.01200. These levels are important technical floors that may offer buying opportunities in case of any pullbacks. With the RSI at 69.34, the token is not yet in the extreme overbought levels that would normally cause an immediate selling pressure.
As several technical indicators are bullish, and analysts compare this project to the successful meme coin predecessors such as PEPE, PENGU seems to be set to continue its existing uptrend to the target of $0.01755.
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