Pudgy Penguins (PENGU) price surged 8% in the last 24 hours, showcasing buyers’ presence at current levels.
Despite the price surge, PENGU is still in a bearish zone as it trades below the 50-day and 200-day EMAs.
PENGU is witnessing mounting bearish pressure as it is currently priced at $0.012, which is much lower than its recent peak of $0.017. Technical indicators are indicating that the market may go lower, as the price is falling continuously and the momentum is on the negative side.
As per CMC data, PENGU is currently trading at the price of $0.0101, with an intraday gain of 8%, showing buyers presence at the current support level. Since mid-May, the cryptocurrency has been in a descending channel, showing a clear drop in prices.
The moving average configuration is showing a bearish trend on different timeframes. The price is currently trading below 50-day and 200-day EMAs, and the shorter periods have moved below the longer ones’ EMAs, which is a typical sign
We współpracy z: https://thenewscrypto.com/pudgy-penguins-shows-signs-of-life-with-8-gain-amid-bearish-pressure/
