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Pudgy Penguins (PENGU) Makes a Splash Among Top Gainers, Is This the Start of a Major Bull Run?
The recovery attempts have pushed the crypto market cap toward $3 trillion, with both losses and gains lingering in the market. The Fear and Greed Index reading is holding at 56, reflecting a neutral momentum. Meanwhile, Pudgy Penguins (PENGU) has recorded a surge of 10.81%, emerging as the top gainer
The asset’s sturdy bullish wave can emerge after testing the crucial resistances. Pudgy Penguins opened the day trading at a daily low of $0.01023. The bulls in command have broken the resistance at $0.01094 and $0.01188, sending the price to a high of $0.01268
At press time, Pudgy Penguins traded within the $0.01169 range, with a market cap of $734 million. Notably, the asset’s daily trading volume has increased by over 88.94%, reaching $251 million
Will PENGU Take Flight to New Highs?
PENGU’s brief bullish sentiment could trigger the price climb to the $0.01198 level. Assuming the bull strength to stay, the asset might drive it up to $0.01232. This range, upon breaking, kick-starts a rally, climbing to its former highs
If the asset initiates a downside correction, the price might slip toward $0.01158. An extended loss initiates a death cross, with the potential bears pushing Pudgy Penguins back to its established lows at around the $0.01115 mark
The asset’s Bull-Bear Power (BBP) value of 0.000514 shows a bullish momentum, which is weak. Moreover, the daily relative strength index (RSI) of Pudgy Penguins is found at 57.19, which signals that the asset is in neutral to slightly bullish territory.
Disclaimer: The opinion expressed in this article is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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