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PENGU Price Prediction- Can the Rally Continue?
PENGU Price Prediction– The Pudgy Penguins (PENGU) token just exploded with a 50% rally from its recent low of $0.0143 on July 7. What triggered this bullish breakout? All eyes are on Bitcoin’s new all-time high—and PENGU seems to be riding the wave.
Fibonacci Hints at More Upside
Technical charts are flashing bullish signals. The Fibonacci extension plotted key resistance levels at $0.02 and $0.026, marking the 23.6% and 61.8% levels. The first target? Already hit.
But the second? That’s where things get interesting.
Strong Demand, No Looking Back
Back in late June, PENGU blasted through the $0.0125 local high, leaving behind a fair value gap—normally a demand zone. Yet, aggressive buyers skipped the retest, thanks to Bitcoin’s euphoria.
Indicators support the move. Chaikin Money Flow (CMF) stayed above +0.05 all July—signaling solid capital inflows. Meanwhile, the Money Flow Index (MFI) climbed alongside price action.
Warning Signs? Profit-Taking Pressure Grows
Despite the rally, not everything is bullish. A bearish divergence is flashing caution. Spot taker CVD data from July shows increased profit-taking pressure, especially above the $0.02 mark.
Key Levels to Watch: $0.0175 and $0.023
Looking ahead, the $0.0175 level could act as a strong buy zone if prices dip. But with bulls still in control, that drop might not happen. Liquidation heatmaps show a liquidity magnet near $0.0225-$0.023, which could attract price upwards.
PENGU remains in a strong uptrend. The path to $0.026 is in sight—but traders should brace for potential pullbacks. Smart entry zones could offer another leg up in this penguin-powered crypto rally.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
