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The Pudgy Penguins price jumped 2% in the last 24 hours to trade at $0.01627 as of 10:43 p.m. EST as some investors up their exposure to the crypto.
The recent gain by the PENGU price is a continuation of the meme coin’s positive weekly rally. As a result, the crypto is more than 76% up on the longer-term 7-day time frame.
Pudgy Penguins Price Nears Resistance
Daily chart for PENGU/USD (Source: GeckoTerminal)
The Pudgy Penguins price is nearing the resistance level at $0.01754 following a positive sequence of higher lows in the last few days, data from GeckoTerminal shows. Should the meme coin clear this technical obstacle, it could have the room needed to rise to the next major mark at $0.02101.
However, a rejection from the $0.01754 resistance in the next 24 hours might result in a pullback towards the closest support level at $0.01522. If this technical safety net fails to hold, the next support down at $0.01290 might be targeted by bears.
Bulls Seem To Be Shifting Their Attention Away From The Pudgy Penguins Price
Looking at technical indicators on the daily chart, PENGU’s bullish momentum seems to have reached a peak. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) warn a correction might soon ensue.
The MACD line has started to dip towards the MACD Signal line in the last 24 hours. This could be an early indication that the meme coin’s positive trend is nearing its end. If the gap between the two lines continues to shrink, the MACD line could end up crossing below the MACD Signal line. Traders might see this as a confirmation that the crypto has entered a negative cycle.
Meanwhile, the RSI has started to level off in the low 70s. Not only does the current reading warn the Pudgy Penguins price is in overbought territory, the downward slope of the RSI line also suggests that some buyers have started to exit the meme coin’s charts.
If traders react to the early warning signs presented by the MACD and RSI on the daily chart, the Pudgy Penguins price might end up falling to the $0.01522 support heading into the weekend.
As the Pudgy Penguins price nears resistance, investors are piling into the presale for Snorter Token (SNORT). According to popular YouTuber and analyst Jacob Crypto Bury, who has over 56.9K subscribers, SNORT could soar 100X on launch.
A New Trading Bot That Helps Users Find 100X Gems
Snorter Token introduces a lightning-quick, cost-efficient trading bot that is designed to not only help traders find 100X gems in the crypto market, but also give them the tools needed to seize the opportunities as they emerge.
From the popular Telegram messaging app, users can snipe new tokens, perform sub-second swaps, copy other top crypto traders and monitor their portfolios in real-time using the Snorter Bot.
The Bot also comes with advanced rugpull and honeypot scam detection, and has already shown an 85% success rate in protecting users against these threats. Traders subsequently have more peace of mind when they buy into new cryptos, which are often risky in the early stages.
All of those features are complemented by competitively low fees. By just holding the SNORT token, users slash their execution costs from 1.5% to just 0.85%. This is far lower than other crypto Telegram trading bots such as BonkBot.
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SNORT Presale Races Towards $2 Million
Investors are already buying into Snorter Token and its bot, which is evident by the more than $1.5 million the project has managed to raise in its ongoing presale so far. With the bullish predictions by experts like Jacob Crypto Bury and the bot’s range of functionality, it’s easy to see why an investor frenzy has erupted around the crypto’s ICO.
There’s still time left for investors to get in at this ground stage. Anyone looking to buy can acquire the token via the easy-to-use widget embedded on the project’s website. SNORT is currently selling for $0.0971, and can be purchased with either crypto or bank card.
Investors looking to secure the best presale deal will want to hurry, because SNORT’s price will increase as its ICO progresses. The next price hike is scheduled to take place in around 31 hours.
Visit the official Snorter Token website.
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