The digital currency price of Penguin Token (PENGU) has experienced a significant 30% increase in the past 24 hours. This growth followed the price reaching its lowest level on December 20th and coincided with an overall market uptrend. Key indicators for Penguin Token, such as Relative Strength Index (RSI) and Chaikin Money Flow (CMF), have reached their highest historical levels, indicating strong buying pressure and investor confidence. Currently, the RSI value for PENGU is at 64.4, the highest level since the token’s launch, signaling a market uptrend. Although the RSI has not entered the overbought region (above 70) yet, this value indicates high buying interest. Additionally, the CMF has reached 0.18, showing a significant growth compared to the previous day’s value of 0.01. This indicator, ranging from -1 to +1, in positive values signifies buying pressure and capital accumulation. The notable increase in CMF indicates buyer dominance and the likelihood of a continued uptrend in the market. Consequently, it is predicted that if the current uptrend continues, the token price could reach $0.039. Breaking through this resistance level could pave the way for growth to $0.040 and even $0.045, representing a 20% increase. On the other hand, if the RSI enters the overbought region, a price correction is possible. In this scenario, the price may first test the support level of $0.030. If this support level is breached, the possibility of a price decline to $0.0229 is also feasible. Visit the digital currency price page to monitor the live prices of all tokens and cryptocurrencies.
