Pudgy Penguins (PENGU) continues to attract attention with steady price action in a bullish environment. At press time, the token is trading at $0.03326, with a 24-hour trading volume of $288.45 million, reflecting a 14.57% increase.
Its market capitalization stands at $2.09 billion, securing its relevance among altcoins. Although the token is nearly flat over the last 24 hours, its weekly decline of 1.12% highlights the ongoing battle between buyers and sellers.
Technical indicators show that the token is moving above both the 9-period EMA and the 20-period SMA, suggesting that buyers are reclaiming momentum. This shift builds on the early September recovery, strengthening the short-term bullish case.
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Bollinger Bands highlight the broader picture. PENGU bounced off the lower band at $0.02712 and now moves toward the upper band at $0.03879, known as a strong resistance. However, a recent rejection candle in the mid-zone signals resistance and profit-taking.
With the price still 14% below the upper band, there is room for a potential upward move if momentum accelerates. The middle band at $0.03296 currently acts as a vital support zone.
However, caution is also warranted. There is a big bearish candle that formed near $0.03500, offering clear resistance, which capped the token from rising further. Failure to hold that level could result in sideways trading or a soft down pull. Watching levels of EMA and SMA closely will be critical to catching early signals of breakdown or continuation.
The Relative Strength Index (RSI) is 53.09, slightly higher than its neutral value of 52.41. It suggests neutral territory, neither overbought nor oversold, characteristic of a consolidation. Momentum has slowed down from August peaks, but is shown by RSI to be dominated so far by buyers.
The MACD is standing at -0.00022 on the histogram and indicates the MACD line lying below the signal. Even though the bearish signal is present here, a narrowing gap is present, suggesting a possible bullish cross that might confirm a positive shift for additional gains.
Overall, Pudgy Penguins stay optimistic and cautious. A definitive upside break above $0.03500 and towards $0.03879 would confirm a stronger uptrend, but timely support near $0.03296–$0.03310 is still critical to a near-term stabilization.
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