Pudgy Penguins has opened its mobile game, Pudgy Party, on the iStore, as well as Google Store. Nevertheless, the PENGU token is not in great demand. It is close to hovering around $0.029, but traders are waiting to see whether there will be a rebound that will push the price to $0.035.
The official Pudgy Penguins team verified the release on X, saying that people can now download the mobile game. Its users all around the world can now play the game. It is one more milestone for the NFT-born brand.
Pudgy Party brings fun aspects that align with the brand and provides a fresh digital experience to the community. This step opens up the ecosystem beyond NFTs and pushes Pudgy Penguins into the broader gaming industry.
The international introduction indicates the development of NFT-native brands. Puddy Penguins is already one of the most famous digital collector projects. This launch allows the project to bridge entertainment to crypto-native culture, which could support the brand in the long term.
Meanwhile, the technical analysis indicates short-term resistance at the 0.382 Fibonacci retracement level, with the mark close to being $0.0310. A breach beyond this may provide a path to $0.0328, as this corresponds to the 0.618 retrace. Other than that, the most important bullish target is at 2.618, which is close to $0.0357.
VWAP readings cluster around $0.02887 to $0.02931, indicating a balanced trading range. Any price action above this band suggests building bearish momentum.
Fib. and VAWP. Source: TradingView
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The RSI is at 48.66, and it’s not overbought nor oversold. That means traders are looking for a catalyst before they go all in.
The MACD indicator becomes slightly positive at 0.00008, but there is no action from the histogram. This suggests weak momentum, although increased volume could move the market quickly.
RSI and MACD. Source: TradingView
Data from Coinglass indicates that more derivatives activity is occurring. Trading volume rises 5.06% to $747.18 million. Open interest was up 7.37% at $298.53 million, suggesting traders are putting money on more volatility after the game launch.
Generally, higher derivatives participation amplifies price moves. Positions by leveraged traders could accelerate the coin’s price move toward resistance levels if sentiment turns bullish. Yet the same leveraged positions could amplify losses if the coin breaks support at $0.0275.
Source: Coinglass
Pudgy Party brings the NFT project to worldwide mobile gaming. Even if the token hasn’t responded strongly yet, derivatives data and technical setups suggest that sharp price swings are coming. Traders will likely be watching adoption numbers and key price levels closely as PENGU attempts to regain its bullish momentum towards $0.035.
PENGU is currently trading below $0.03. The short-term target is $0.031 to $0.033, while the mid-term breakout zone is $0.035 to $0.036 if momentum builds. Above those amounts, a decisive rally may test the $0.038 to $0.041 region, which corresponds to the higher Fibonacci extensions.
On the contrary, if the PENGU price drops below $0.0275, it would trigger a decline towards $0.025, removing much of the recent bullish structure.
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