PENGU Price Sets New Low After 10% Drop in the Last 24 Hours
PENGU price has fallen more than 10% in the past 24 hours to hit new lows as the broader cryptocurrency market faces widespread selling pressure. The coin is approaching the key support level at $0.0229, which may determine its short-term direction. A break below this level could push PENGU below $0.020, signaling further declines.
However, if the buyers regain control and the momentum shifts, PENGU price could target resistance at $0.030, $0.034, and possibly $0.039. This would represent a significant increase of 56% from current prices.
PENGU RSI shows neutral zone
promiseThe relative strength index currently stands at 48.95, recovering significantly after falling below 20 earlier. this relative strength index It is a momentum oscillator that measures the speed and magnitude of price changes and oscillates between 0 and 100.
RSI thresholds provide important insights into market conditions. An RSI below 30 indicates oversold conditions, indicating that the asset may be undervalued and presents a potential buying opportunity.
Conversely, an RSI above 70 indicates overbought conditions, indicating possible selling pressure as the asset may be overvalued. Levels between 30 and 70 reflect neutral conditions and are usually associated with consolidation or gradual trend development.
PENGU’s RSI is currently at 48.95, and the indicator indicates that the price is neither oversold nor overbought. The recovery from extreme oversold levels below 20 suggests selling pressure has eased.
In the short term, an RSI close to 50 indicates indecision, with penguin price Consolidation is likely as traders assess whether bullish momentum can build or bearish pressure may resume. A break above 50 could signal increasing upward momentum, while a pullback to 30 could signal renewed weakness.
48% of the PENGU in the airdrop has been claimed
Approximately 48% of PENGU supply is allocated to airdrop It has been claimed so far, with more than 20 billion remaining. PENGU token Still unclaimed. The large number of unclaimed tokens represents a significant portion of the supply that may enter circulation.
Airdrop claims often create selling pressure as recipients may choose to sell their tokens immediately upon receipt, especially if the token has already experienced a price increase.
In the short term, unclaimed tokens may become a potential unresolved issue penguin price. If these tokens are subscribed and sold in large numbers in a short period of time, it could increase selling pressure and depress prices.
However, if the remaining tokens are gradually claimed or held by recipients rather than sold, the impact on the market may be more modest.
PENGU Price Forecast: Will it hit a new low?
penguin price It is currently approaching the key support level at $0.0229. If this level fails to hold, the coin may continue to fall. It could fall below $0.020 and hit new lows. This makes $0.0229 a key area for buyers to defend against further bearish momentum.
On the bright side, if PENGU can build strong momentum and build a strong uptrendit may first target resistance at $0.030. A successful move above this level could open the way to $0.034 and potentially $0.039.
This would be a 56% upside from current levels. The move would require significant buying interest and a strong reversal in market sentiment.
Disclaimer
conform to trust project Guide, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to providing accurate and unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult a professional before making any financial decisions. Please note that our terms and Conditions, privacy policyand Disclaimer Updated.
