The price of Pudgy Penguins (PENGU) jumped 12% in the last 24 hours, overtaking BONK to become the world’s largest coin. Solana ecosystem with a market capitalization of approximately $2.5 billion.
PENGU’s current uptrend positions it near key resistance levels, with the potential for significant gains if the bullish momentum persists. However, traders are also wary of a possible reversal as the uptrend is showing early signs of losing strength.
PENGU RSI is now neutral, after touching 70
PINGOU Relative Strength Index (ROI) currently sits at 60.2, up from 70 just a few hours ago, after falling from below 50 just two days ago. This recent move reflects a strong surge in buying momentum, followed by a slight pullback as the token moved out of overbought territory.
Although the RSI remains in a neutral to bullish range, the decline suggests a cooling in buying activity, potentially indicating that the market is entering a consolidation phase.
The RSI is a momentum oscillator that measures the speed and magnitude of price movements on a scale of 0 to 100. An RSI above 70 indicates overbought conditions, often leading to a price correction, while a RSI below 30 suggests oversold conditions, signaling a potential rebound. .
With PENGU’s RSI at 60.2, the coin is in a healthy range, suggesting there is still room for upward movement if buyers reassert control. However, the recent decline from overbought levels implies that PENGU Price could stabilize in the short term, allowing the market to absorb gains before deciding its next direction.
PENGU CMF is always very positive
PINGOU Chaikin Money Flow (CMF) is currently at 0.17, down slightly from its peak of 0.21 on December 25. This follows a significant change from negative CMF values ​​between December 21 and 23, indicating that buying pressure has strengthened significantly over the past few days. .
Although the CMF remains decidedly positive, the slight decline suggests that the intensity of capital inflows has eased but still reflects a bull market environment.
CMF is a volume-weighted indicator that measures the accumulation or distribution of an asset over time, with values ​​ranging from -1 to +1. Positive CMF values ​​indicate accumulation and strong buying pressure, while negative values ​​signal distribution and selling activity.
With PENGU’s CMF at 0.17, continued positive inflow suggests buyers remain in control, supporting the likelihood of price stability or further gains in the near term. However, the slight decline from the recent high could signal a possible period of consolidation as the market balances recent bullish momentum.
PENGU Price Prediction: Another 29.7% Rise?
If the current uptrend continues, PENGU Price could soon test $0.43, a key level that could pave the way for further gains.
Breaking this resistance could see PENGU rise to $0.45 and even $0.50, representing a potential upside of 29.7% from current levels. This would consolidate PENGU’s position as the largest coin on Solana even more.
However, as the RSI and CMF point out, the uptrend could lose strength, suggesting the possibility of a reversal. If this happens, PINGOU could test the $0.37 support level, and if this does not hold, the price could further decline to $0.30.
In a worst-case scenario, a prolonged downtrend could send PENGU price as low as $0.229.
Disclaimer
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