PUDGY PENGUINS PRICE ANALYSIS & PREDICTION (July 10) – Pengu Resumes Bullish After a Short Pullback, Jumps 30% Daily

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After a week pullback from a monthly resistance level, Pengu found support nearby and initiated a fresh buy. It is now looking strongly bullish on the daily chart following a major surge in volatility.

Following the late June bounce back from a month decline, Pengu resumed bullish 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.

That led to a setback in the bullish move and the market entered a slight pullback phase. It recovered from that phase this Monday and is now 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 in 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 in charge.

Pengu’s Key Levels to Watch

Source: Tradingview

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, $0.0076, $0.0052

  • Price: $0.019
  • Trend: Bullish
  • Volatility: High

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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About Author

Michael is a professional trader and cryptocurrency technical analyst with many years of trading experience. He became passionate about cryptocurrencies and blockchain technology through his sister and has since been following the industry

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