PENGU crypto jumps 50% – Traders, here’s the real support you should watch!
2025-07-12 07:06:32
Main Idea
PENGU crypto surged 50% from its July low, with key support levels identified, but potential profit-taking and selling pressure may lead to a price dip.
Key Points
1. PENGU crypto rallied 50% from its low of $0.0143 on July 7th, with Fibonacci extension levels marking $0.02 and $0.026 as key targets.
2. The 1-day chart showed strong bullish momentum, with a fair value gap left in late June that was expected to retest as a demand zone.
3. Capital inflows remained strong in July, with CMF readings consistently above +0.05 and MFI rising, indicating bullish demand.
4. Profit-taking activity increased, with spot taker CVD data showing selling pressure, suggesting a potential dip toward $0.0175.
5. Liquidation data indicated potential upward movement, with $0.0225-$0.023 as a key interest zone, while $0.018 served as a demand zone.
Description
The spot taker CVD data of the past three months showed that selling pressure from profit-taking activity was increasing in July.
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