Is PENGU Poised for a 25% Explosion? Here’s Why the NFT Surge Could Be Just the Beginning!
Even so, the RSI has remained in overbought territory. Another surge on Monday, 21 July, took PENGU beyond the $0.0361-resistance. The memecoin last traded at this level in January.
Its retest of the same level occurred on the back of high demand for the token. This was evidenced by the rising OBV, which indicated greater buying pressure.
Source: PENGU/USDT on TradingView
The 4-hour chart highlighted the past week’s range more clearly. We can see that the RSI fell to neutral 50 for a few days, and is now back above 70. Moreover, it made a bullish market structure break after rising past $0.035 – The local high. The quick surge higher in recent hours left behind a fair value gap (FVG, white box).
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