The post Pudgy Penguins (PENGU) Rallies 13% Amid Strong Bullish Signals appeared on BitcoinEthereumNews.com.

PENGU rose 13.12% to $0.04111, with strong trading volume up by 72.32%. RSI at 66.56 signals bullish momentum; moving averages confirm upward. The global crypto market cap increased by 0.50% to $3.5 trillion, while the overall market volume dropped 29.19% to $88.22 billion. PENGU’s 24-hour volume-to-market cap ratio of 29.36% highlights strong trading activity relative to its valuation. Pudgy Penguins (PENGU) is showcasing a solid recovery after a pullback from its recent high of $0.04247. The token is trading at $0.04111, reflecting a 13.12% surge over the past 24 hours. Its market cap is $2.58 billion, with a significant 24-hour trading volume of $758.89 million, up by 72.32%.  The fully diluted valuation (FDV) is $3.65 billion, and the circulating supply is 62.86 billion PENGU, with a maximum supply of 88.88 billion. Its position as #54 in the rankings further underscores its prominence among altcoins. Key Indicators and Price Movement The chart reveals critical support at $0.03735 and resistance at $0.04247. The price is trading above the 9-day and 21-day moving averages, with a bullish crossover signaling upward momentum. If PENGU breaks the resistance level, it could target $0.045 and beyond. A downside break below support may trigger further declines toward $0.035. The Relative Strength Index (RSI) is 66.56, near the overbought zone, suggesting strong buying pressure. The RSI average stands at 57.89, confirming bullish sentiment. The moving averages’ positive alignment implies sustained growth in the near term. PENGU’s current performance, supported by technical indicators, indicates potential for further gains. Its bullish crossover and RSI momentum favor continued recovery. However, traders should monitor key levels closely, as a breakout or breakdown will determine its next trajectory. With rising trading activity and investor interest, PENGU remains a strong contender in the crypto market. Highlighted Crypto News TodaySolana quantum vault secures blockchain against…

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Filed under: News - @ January 5, 2025 9:18 am