Pudgy Penguins (PENGU) Price Rises on Strong Buying Pressure
Pumpy Penguin (PENGU) price has surged around 30% in the past 24 hours, rebounding sharply after hitting its lowest levels on December 20.
This dramatic recovery comes with bullish momentum as key indicators relative strength index and CMF hit record highs, reflecting strong buying pressure and a return to investor confidence.
PENGU RSI at all-time highs
promise The relative strength index (RSI) currently stands at 64.4, its highest value since launch. A rising RSI indicates strong buying momentum, indicating that the coin has been facing significant upward pressure.
While it has not yet entered overbought territory (generally considered an RSI above 70), this level reflects increased market enthusiasm and underlying bullish sentiment.
RSI is a popular momentum indicator that measures the speed and magnitude of price movements on a scale of 0 to 100. Values above 70 indicate overbought conditions that may result in a price correction, while values below 30 indicate oversold conditions and usually precede oversold conditions. rebound.
and promise The RSI is at 64.4, which is close to overbought territory, indicating that if buying momentum continues, prices may continue to climb higher in the short term. This will make PENGU a Best performing altcoins recently.
PENGU CMF last day up
PENGU’s Chaikin Fund Flow (CMF) currently stands at 0.18, up significantly from 0.01 a day ago and marking the highest level since the token’s launch. The sharp rise points to strong inflows, reflecting strong buying pressure and growing investor confidence in the stock market. Altcoins.
CMF at this level suggests buyers are dominating the market, which could support continued price gains in the short term.
CMF is a volume-weighted indicator that measures the accumulation or distribution of assets over a given period and ranges from -1 to +1. Positive values indicate accumulation and buying pressure, while negative values indicate distributions and selling pressure.
PENGU has a CMF of 0.18 and current market sentiment is overwhelmingly bullish, meaning the coin is likely to maintain its upward momentum if inflows continue. However, such high levels can also lead to a period of consolidation as traders lock in profits, so it is crucial to monitor whether the buying trend continues or starts to weaken.
PENGU Price Prediction: Can PENGU Reach $0.045 in December?
If the upward trend continues, promise It may approach a new all-time high around $0.039.
A break above this resistance could pave the way for further gains, with potential targets at $0.040 and $0.045, with upside potential of around 20%.
However, if the RSI moves into overbought territory, it indicates excessive buying pressure and prices may adjust accordingly. in this case, penguin price A test of $0.030 is likely as its first key level.
If this support fails, penguin price A further decline to $0.0229 is likely, marking a strong pullback.
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.
