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PUDGY PENGUINS PRICE ANALYSIS & PREDICTION (July 10) – Pengu Resumes Bullish After a Short Pullback, Jumps 30% Daily
After a week-long pullback from a monthly resistance level, Pudgy Penguins found support nearby and has initiated a fresh buy. As a result, it is now looking strongly bullish on the daily chart following a significant surge in volatility.
Following the late June bounce back from a month decline, Pengu resumed its bullish momentum at full speed and began to gain traction daily. Unfortunately, the metaverse token cooled off momentum last week after failing to push above the $0.0175 level, marked as resistance during the second quarter rally. This led to a setback in the bullish move and the market entered a slight pullback phase. However, it has now recovered from that phase this Monday and is back in an upward range after testing the $0.0143 level as support.
Breaking out of the mentioned resistance level earlier today, it currently surges towards the key $0.02 level. Activating another buying phase, a strong daily close above this key level should trigger a massive rally in the coming days. However, the recently flipped resistance is now considered as support in case of a drop. Right now, the bears are off the market. If they find their way back into the market, they must reclaim the yearly low before gaining control of the market from a short-term perspective. As of now, the bulls are firmly in charge.
Pengu’s Key Levels to Watch
The latest buying phase is currently targeted at the $0.0274 resistance level. Right above it lies the $0.047 level. Pushing through all these high levels could skyrocket the price to $0.07 in no time. If the price slides back under the $0.0175 level, Pengu may revisit the $0.0145 support. Lower support levels for a bearish move are located at $0.01 and $0.007.
Key Resistance Levels: $0.0274, $0.047, $0.07
Key Support Levels: $0.0143, $0.01, $0.007
Source: nulltx.com
