Key Takeaways
- PENGU crypto soared 50% on Bitcoin’s breakout, but rising sell pressure and bearish divergences hint at a possible short-term retracement. Liquidity maps show $0.0225 and $0.0175 as key zones for the next price moves.
Pudgy Penguins [PENGU] rallied 50% from its low of $0.0143 on the 7th of July. Imagine a penguin doing a backflip into a pool of cash! 🦆💰
The Fibonacci extension levels plotted the $0.02 and $0.026 as the 23.6% and 61.8% extension levels, respectively. It’s like the penguin’s waddle turned into a sprint!
The first target has been met, spurred by Bitcoin [BTC] making a new all-time high. It’s as if Bitcoin was the penguin’s personal cheerleader, shouting, “Go, go, go!” 🎉
The 1-day chart showed strong bullish impetus. It’s like the penguin found a secret stash of energy drinks and decided to party all night! 🥤🎉
In late June, when PENGU token prices soared above $0.0125 local highs, it left behind a sizable fair value gap (white box). It was expected that this gap would be retested as a demand zone before the rally continued. But, oh no, not our Pudgy Penguin! It was too busy having a grand old time to look back. 🎉🎉🎉
Instead, aggressive bullish demand, combined with Bitcoin’s euphoric breakout, prevented the revisit. The penguin was on a roll, and nothing could stop it! 🦆💨
The CMF backed this with strong capital inflows, maintaining consistent readings above +0.05 throughout July. On top of that, the MFI rose in tandem with the price. It’s like the penguin was on a winning streak at the casino, raking in the chips! 🎲💰
Yet, cracks may be forming—a bearish divergence hinted at a possible cooldown. The penguin might need to catch its breath soon. 🦆😴
Were there any other threats to the PENGU crypto rally?
The technical analysis showed that the uptrend was intact, although there was potential for a price dip toward $0.0175. The spot taker CVD data of the past three months showed that selling pressure from profit-taking activity was increasing in July. It’s like the penguin’s friends were getting a bit greedy and wanted to cash out. 🦆💸
Likely due to the swift price rally, holders might be tempted to book profits. The rally tempted many to lock in profits, shifting the market into a Taker Sell Dominant phase above $0.02. It’s as if the penguin’s party was getting a bit too wild, and some guests decided to leave early. 🎉🚪
Northbound pull, but watch your step
The recent liquidation data showed that PENGU crypto might be pulled higher in the coming days. The $0.0225-$0.023 area was a magnetic zone of interest above the market price. It’s like the penguin was being lured by a shiny carrot! 🦆🥕
To the south, the liquidity clusters were not as strong until the $0.018 area. Hence, these were the two supply and demand zones for the PENGU token, shortly. A retracement toward $0.0175 could provide a buying opportunity. It’s like the penguin might take a little nap before jumping back into the action. 🦆💤
Yet, as we saw with the fair value gap, buyers might not see sizeable price dips due to the bullishness across the market, and behind PENGU. The penguin’s fans are just too enthusiastic to let it rest for long! 🦆🎉
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2025-07-12 10:23