The post Pengu Eyes $0.012 After NYSE Boost And Derivatives Surge appeared on BitcoinEthereumNews.com.

PENGU jumped 32% after VanEck listed it on the NYSE. Technical charts and derivatives data show bullish signals, suggesting a potential breakout to $0.012. The launch of the Pengu Clash game boosted investor interest and helped increase trading volume. PENGU surged over 32% following its appearance on the NYSE in association with VanEck, triggering bullish sentiment across derivatives and spot markets. Reknowned crypto analyst Ali Martinez has noted that $0.010 acts as a breakout level, and a target of $0.012. The 1-hour chart depicts a clean consolidation above $0.008 and towards the vicinity of $0.01, with the bullish candles forming above the retracement levels. Price has been trading above the 0.786 Fibonacci ($0.00966), indicating support strength. An hourly close above $0.010 would confirm breakout continuation. Source: X Daily technicals offer mixed signals. The RSI is at 43.4, barely clawing out of an oversold position, and the MACD is barely bullish and weak, mixed. The Bollinger Bands are consolidating, with the current price level being close to the lower band, which signals future volatility. Derivatives Data Shows Strong Long Bias The open interest increased by 18.53% to $54.91 million, whereas the volume surged ahead by 68.40% to $208.25 million. Long/short ratios are in favor of bulls in major exchanges. On Binance, the ratio is 1.1542, and top traders are even more optimistic, with a 1.193 ratio by accounts and 1.1521 by positions. Increased speculative activity is also confirmed in liquidation data. More than $354k has been liquidated over the last 24 hours, with short position liquidations of around $236k versus $118k long positions, showing upward pressure forcing short covers. The 24-hour long/short ratio of 1.0084 indicates that traders are dividing pretty evenly overall, although platform-specific figures indicate that traders have gone long, especially on Binance. The only bearish divergence was on…

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Filed under: News - @ June 25, 2025 5:21 am