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The Pudgy Penguins price has slumped by 12% in the last 24 hours to trade at $0.03373 as of 7:20 p.m. EST on a 56% plunge in trading volume to $538 million.
The recent drop in the PENGU price has positioned it as the top loser among the biggest cryptos by market capitalization, according to CoinGecko.
Pudgy Penguins Price Signals A Bullish Reversal
The PENGU/USD chart currently reveals significant support levels and key indicators that could shape its next price movement. The most critical support level is at $0.0316, which has been tested multiple times in the past and has consistently served as a reliable zone where buyers step in to prevent further declines. This level also aligns with the 200-period moving average (MA), a widely recognized indicator for long-term trend direction.
Its overlap with this support zone makes it a robust area for potential reversals. In addition, there is a secondary support level at $0.0335, which aligns with previous consolidation phases where price stabilized before moving higher.
PENGUUSD Analysis Source: Dextools.io
The current price is hovering below the 50-period moving average (MA) at $0.0367, indicating short-term bearish sentiment. The 50 MA is often viewed as dynamic resistance during bearish trends, and a successful break above it could signal a shift toward bullish momentum.
Pudgy Penguins Price Indicators Signal A Rebound Ahead
Meanwhile, the MACD indicator is painting a bearish picture, with the MACD line positioned below the signal line and both remaining in the negative zone. This confirms that sellers are still in control. However, a closer look at the MACD histogram reveals a gradual decline in selling pressure, indicating that bearish momentum may be losing strength, which could pave the way for a possible price recovery.
The Relative Strength Index (RSI), currently at 38.46, suggests that the Pudgy Penguins price is approaching oversold conditions. RSI levels below 40 indicate that sellers are dominant, but they also signal that buyers might soon step in to capitalize on undervalued prices. If the RSI drops further into oversold territory, it could trigger a bullish reversal, especially if other conditions align, such as holding the $0.0316 support level.
if the price respects the $0.0316 support zone, a bounce is highly likely, targeting key resistance levels at $0.0350, $0.0367 (50 MA), and ultimately $0.0400. Breaking above these levels would confirm a bullish reversal and could attract new buying interest, setting the stage for further upward movement.
However, if the price breaks below $0.0316, it would invalidate the bullish setup and could open the door to additional downside, with the next major support zone sitting around $0.0300.
Flockerz Smashes $8 Million Mark – Last Chance To Buy
Even as the Pudgy Penguins price hints at a potential rebound, some investors are turning their attention to presale meme coins like the newly launched Flockerz (FLOCK), which has surpassed $8 million in funding with its launch just 25 days away.
According to an analyst on 99Bitcoins, a popular YouTube crypto channel with over 719K subscribers, FLOCK has the potential to deliver a massive 100X return once it launches.
Flockerz is solidifying its status as a promising meme coin. Unlike traditional meme coins, Flockerz offers token holders engagement via its FlockTopia, a DAO that allows FLOCK holders to earn additional tokens by participating in key project decisions.
Upon acquiring FLOCK, users automatically become part of FlockTopia, where they can vote on important matters like marketing strategies and token burns. Participants are rewarded with extra tokens through smart contracts for their votes.
🔥 The Flock Don't Stop! 🔥
With just 25 days left in the presale, The Flock continues to show its strength, with 8M raised!
What a proud day for all of Flocktopia 🐦🔥 pic.twitter.com/GA7JDEt4YX
— Flockerz (@FlockerzToken) December 27, 2024
In addition to vote-to-earn (V2E) rewards, Flockerz offers passive income opportunities through a staking program that boasts a huge annual yield of 342%.
Investors can purchase FLOCK tokens at $0.0065561 each using BNB, ETH, USDT, or bank card.
With only about 25 days left before the token launch, this is the final opportunity to join the presale.
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