🔹 Pudgy Penguins (PENGU) token remains in a solid uptrend
🔹 Liquidity shifts suggest high volatility ahead
🔹 The $0.012–$0.013 zone could offer a prime buying opportunity
Bulls Dominate, but Correction Could Be Coming
PENGU, the official token of the popular Pudgy Penguins NFT collection, is currently riding a strong bullish wave. Its momentum remains intact despite short-term volatility in recent days. The market structure stays firmly bullish, with the sharp rally on June 28 likely driven by renewed enthusiasm fueled by ETF speculation.
At present, the token is testing resistance near $0.015, which had previously capped price action back in May. This level is under close watch, as a breakout could signal further upside.
Indicators Show Strong Bullish Sentiment
🔹 Chaikin Money Flow (CMF) is printing an impressive +0.21, indicating heavy capital inflows on the buy side.
🔹 Awesome Oscillator (AO) remains above the zero line, confirming that buyers hold the momentum.
🔹 Accumulation/Distribution (A/D) also reflects growing demand for the token.
Trading volume began surging last Friday and has remained elevated since. This high-volume environment is pushing PENGU higher, but also increases volatility, as reflected by long wicks on both sides of the candles.
Volatility and Liquidity: Beware of Whipsaws
Price swings in lower timeframes suggest that liquidity clusters are steering price movement. On Tuesday, PENGU spiked to $0.0162, clearing out a liquidity zone around $0.0157. It then dropped quickly to $0.0138, reversing liquidity flow in the opposite direction.
These moves reflect a highly volatile landscape, where traders should be cautious or sit out temporarily.
Key Buy Zone: $0.012–$0.013
The $0.012–$0.013 range has emerged as a magnetic zone. It lies within a previously formed fair value gap from the recent rally and aligns with a prior local high.
If price revisits this zone and then bounces upward, it could signal a solid entry point for long positions. Based on current conditions, this is a scenario worth watching in the coming days.
Conclusion: Momentum Is Strong, but Patience Pays
PENGU continues to benefit from strong demand and bullish sentiment, but traders shouldn’t ignore signs of a possible retracement. The $0.012–$0.013 level stands out as a high-probability buy zone following a short-term dip.
Jumping in at the top could be risky – waiting for a pullback might pay off.
🔍 Question for readers:
Will you wait for the dip to $0.012, or are you already buying PENGU?
#pengu , #PudgyPenguins , #nft , #CryptoVolatility , #cryptotrading
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