PENGU crypto jumps 50% – Traders, here’s the real support you should watch!

With me

• Crypto’s Pengu gathering 50% on bitcoin escape, but the growing pressure sold pressure and bear divergence indicated possible short -term retraction. Liquidity maps show $ 0.0225 and $ 0.0175 as key zones for additional price movements.

---

Pudgy penguins [PENGU] 7th July gathered by 50% of the minimum of $ 0.0143.

Fibonacci expansion levels rendered $ 0.02 and $ 0.026 as $ 23.6% and 61.8% extension.

The first goal was met, Bitcoin [BTC] Creating a new historical high.

A one -day chart showed a strong bull pulse.

At the end of June when Promises The token prices rose above $ 0.0125, the local maximum, left behind a considerable gap in real value (white box). This gap was expected to be tested again as a demand zone before the rally continues.

Instead, aggressive bull demand, combined with Bitcoins Euphoric escape prevented revision.

CMF supported this with a strong influx of capital and maintained consistent reading over +0.05 during July. In addition, the MFI rose with the price.

Nevertheless, cracks may be formed – bear divergence indicated possible Cooldown.

Were there any other threats for crypto rally pengu by?

Technical analysis showed that UPTREND was intact, although there was a potential for a price drop towards $ 0.0175. CVD data on the spot in the last three months has shown that sales pressure from the activity for profit grew in July.

Probably due to a fast price assembly, they may be tempted to book profits.

The rally has tried many people to block profits and move the market to the dominant stage of the seller over $ 0.02.

Northbound pull but watch your step

Recent liquidation data has shown that crypto pengu may be pulled out in the coming days. The area of 0.0225-0.023 $ was a magnetic zone that is interest above the market price.

The clumps of liquidity were not so strong until the area was $ 0.018.

Therefore, there were two zones of supply and demand for token pengu. Retracement at $ 0.0175 could provide the opportunity to buy.

Yet, as we have seen with a gap in real value, the buyers do not have to see considerable price drops due to bulls throughout the market and for pengu.

Resistance of liability: The information presented does not represent financial, investment, trading or other types of advice and are merely the opinion of the writer