Pudgy Penguins waddled its way to a 26% surge last week, now teetering on the edge of a pivotal peak. Can the flightless fowl finally break through, or will resistance send it tumbling back down the icy slope?
PENGU’s poised to fly, defying the altcoin chill – but one final fortress stands in its path. Can this penguin punch through? Dive into the data: bullish indicators are blazing, liquidations are primed, and the charts whisper of a surge still to come. Don’t blink, this could be PENGU’s moment.
PENGU Bulls Are In Complete Control
PENGU dipped a mere 2% in the last 24 hours, but don’t let that fool you – the bulls are far from defeated. The Bull-Bear Power (BBP) index, our market strength meter, is still glowing a vibrant green at 0.0148. This isn’t just a flicker of hope; it’s a signal that buyers are firmly in control, shrugging off that minor stumble like a champion.
PENGU Bull Bear Index: TradingView
Forget the zoo this market’s a battleground! Pengu’s BBP has been flashing green since late June, a secret weapon revealing bulls are muscling bears into submission. Even as prices flirted with resistance, BBP held firm, hinting that any pullback is just a breather before the next charge. Think of it as the calm before the stampede.
“PENGU breaks resistance? Watch BBP. A rising BBP alongside the price surge is a green light – momentum is roaring! But beware, a BBP flip to negative could signal an icy plunge is coming soon.”
7-Day Liquidation Map Shows Short-Biased Setup
PENGU price hovers around $0.036, bracing for a potential breakout. A tug-of-war is playing out in the derivatives market. The 7-day liquidation map reveals $10.46M in short leverage stacked up, narrowly exceeding the $10.18M defending the long side. This razor-thin margin suggests PENGU is a powder keg. With bulls and bears nearly neck-and-neck, a decisive price surge – be it up or down – could trigger a cascade of liquidations and ignite PENGU’s next major price movement.
With bulls flexing serious muscle, as the BBP index confirms, short positions are about to feel the squeeze far more than longs.
PENGU liquidation map: Coinglass
PENGU eyes $0.042! Bulls are poised to shatter the $0.039 resistance, unleashing a short squeeze of epic proportions. A surge past this level ignites a chain reaction, obliterating short positions and clearing the path for PENGU to conquer the next price frontier.
“PENGU’s price is a coiled spring. A liquidation map reveals a fortress of short positions. Should PENGU ignite a rally, these bears could be forced into a frantic stampede, triggering a buyback frenzy that sends the price soaring to dizzying heights.”
PENGU Price Action Hints at a 38% Upside
PENGU’s price is locked in a tense standoff just beneath the $0.039 mark, where the 0.382 Fibonacci level has proven a formidable opponent, repelling two breakout attempts. Hovering just below this ceiling, traders should also keep a close eye on the $0.037 level, another critical resistance point that could determine PENGU’s next move.
PENGU price analysis: TradingView
Unlocking Crypto Profits with Fibonacci: Imagine drawing a treasure map on your crypto chart. We’re using the Trend-based Fibonacci extension, your X marking potential profit spots. Connect the low point of $0.0077 to the peak at $0.035, then anchor it to the dip at $0.028. Boom! This unveils projected price levels as the coin surges upward – your guide to pinpointing take-profit targets.
PENGU is poised for a potential price surge! A decisive breach above $0.037 could ignite a rally, with $0.039 and then $0.042 (the 0.5 Fib level) acting as crucial stepping stones. Clear those hurdles, and $0.045 becomes the immediate target, promising a 25% jump. But the momentum might not stop there. Conquering $0.045 could pave the way to $0.050, the 0.786 Fibonacci level, potentially rewarding investors with a thrilling 38% gain from the current $0.036 mark. Keep a close watch!
PENGU’s surge gains credence as bears retreat, short positions pile up, and its chart paints a bullish masterpiece. The uptrend faces its acid test if PENGU cracks the $0.035 floor, once resistance, now crucial support. A deeper descent to the Fibonacci’s $0.028 retracement zone could signal a trend reversal.
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