Key Takeaways
- PENGU’s value breakout on the day by day timeframe might see the value try a rally in direction of its excessive of $0.058.
- PENGU’s value seems robust technically and essentially, garnering a powerful market prediction for Ali Martinez.
- The value of PENGU rallying to a excessive of $0.058 might imply a possible value of round 300%.
The cryptocurrency market is wanting robust following a latest market bounce, with Bitcoin reclaiming new highs. The likes of Pudgy Penguins (PENGU) have captured the hearts of many memecoin degens as the value motion is starting to look just like PEPE.
Following PENGU’s value motion and its similarity to PEPE, crypto knowledgeable and on-chain analyst Ali Martinez has taken to his X account to spotlight the similarities between the 2 value actions, as the value might purpose for a rally in direction of its all-time excessive.
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Whereas Ali Martinez has shared robust value predictions for PENGU, suggesting a breakout of its value might result in a rally of over 300%, let’s analyze the present value motion of PENGU and market expectations.
PENGU vs PEPE Value Motion Similarities
Pudgy Penguins (PENGU) seems to be following a basic development, as indicated by the announcement on their X web page of strategic partnerships over the previous few months, which has helped its value breakout to a excessive of 0.016 following a value crash for PENGU from a excessive of $0.058 to a low of $0.004.
The value of PENGU struggled in a value vary round this area, forming robust key help earlier than a breakout from its bearish value motion in direction of $0.016. With the value of PENGU wanting robust on the day by day timeframe, Ali Martinez was fast to make a powerful bullish comparability, suggesting that PENGU’s chart resembles PEPE’s.
In response to Ali Martinez, a breakout for PENGU above its earlier key resistance of $0.018, with robust quantity, might see the value try to reclaim its earlier all-time highs of $0.058.
The crypto analyst additional famous that PEPE’s value had been consolidating at its all-time low for months earlier than experiencing a powerful value breakout to succeed in its all-time highs and acquire recognition following its itemizing on a high crypto alternate. He believes PENGU has the potential to copy PEPE’s value motion.
Nonetheless, with latest robust value motion on the day by day timeframe for PENGU, merchants and buyers shall be paying shut consideration to the value of PENGU within the coming weeks to make knowledgeable funding selections.
PENGU Value Evaluation
Supply – PENGU 1D Chart From TradingView
PENGU seems poised for a serious breakout to highs of $0.02, following a latest value vary inside a bullish rising wedge. If the value of PENGU on the upper timeframe breaks out with robust quantity to the upside and retests the important thing resistance that has been flipped into help, it might verify a rally to the upside.
Total value motion seems to be bullish with a possible value breakout confirming a bullish value rally to the upside.