Key dealers
The marketing entry has remained haussertat over the crypto gym, with pudgy penguins that see high sales volumes over the past week. This increased demand for its token Pengu, which increased by 21% on Monday. According to some estimates, it may collect with another 20% or more.
Pudgy penguins (Pengu) Has gathered with 170% since he made a causal market structure on 1-day chart. This happened on June 23. Monday 21 July saw Panties Make additional profits of 21.7%, with technical indicators showing that rally can extend higher.
Source: NFT Priskskolv
This movement can be explained by the hike in the NFT sales volume for Pudgy Penguins Collection. In fact, data showed that there was a sales volume on $ 9.65 million In the past week. This resulted in a nail in the floor price of Pudgy Penguins, which went under $ 10 to $ 16.88 in just under two weeks.
The broader crypto market has also remained Hausse. Neither Bitcoin (BTC) or Ethereum (ETH) saw a significant drawback, with Ethics Actually rally with 6.5% over the weekend.
Can Pengu continue his rally even if the momentum looks overheated?
Source: Hasdt for trade
The 1-day chart caught Pengu Starka Hausse Momentum over the past month. It made a hooked market structure on June 28, where Altcoin continued to trend higher since then. However, the momentum began to slow down over the past week. RSI dipped from 87 to 75, as Pengus price varied between $ 0.03 and $ 0.035.
Nevertheless, RSI has remained in superior territory. Another wave on Monday 21 July took Pengu, in addition to 0.0361 resistance of $ 0.0361. Memecoin was last shopping at this level in January.
Its test of the same level occurred on the back of high demand for the token. This was proven by the rising OBV, which indicated greater buyingress.
Source: Hasdt for trade
The 4-hour chart highlighted the last week’s range clearer. We can see that RSI fell to Neutral 50 for a few days and now is back above 70. In addition, it made a hooked market structure after rising over $ 0.035 – the local pile. The rapid increase higher in the last few hours left after a gap of fair value (FVG, White Box).
It may be likely that a re -examination of this FVG would give a good purchase opportunity. DMI signaled a strong trend in motion over the past week, despite the short -term consolidation. Both ADX (yellow) and +di (green) were also over 20.
The next Pengu price target is the $ 0.047 resistance, 25% higher than the market price for press time. Therefore, swing retailers can target 25% movement in the coming days.
