Pudgy Penguins (PENGU) price has surged over 9% in the last 24 hours, with trading volume soaring 150% to reach $907 million. Now the second-largest Solana meme coin behind BONK, PENGU is attracting significant attention as its market cap climbs to $2 billion.
Despite a recent RSI surge and bullish momentum reflected in the DMI, the trend strength remains modest, signaling cautious optimism among traders. The altcoin s approaching critical resistance at $0.043, with potential for further gains or a sharp correction depending on whether the current momentum sustains or reverses.
PENGU RSI Spikes but Remains in Neutral Zone
PENGU Relative Strength Index (RSI) is currently at 51, reflecting a slight decline from yesterday’s 57 after surging from 35 in less than a day. This movement indicates that while buying pressure has diminished somewhat, the RSI still remains in the neutral zone.
The rapid surge from oversold levels suggests a recent recovery phase, but the stabilization around 51 hints at a market pause as traders assess the next direction for PENGU price.
The RSI is a momentum indicator that measures the strength and speed of price movements on a scale from 0 to 100. Readings above 70 indicate overbought conditions, often signaling a potential pullback, while readings below 30 suggest oversold conditions and a possible price recovery.
With PENGU’s RSI at 51, the indicator signals neither strong bullish nor bearish momentum, reflecting market indecision. In the short term, this neutral RSI suggests that PENGU price may consolidate unless a shift in buying or selling pressure pushes momentum in a clear direction.
PENGU Trend Lacks Strength
PENGU’s DMI chart shows its ADX currently at 20.3, slightly below the 25 level recorded
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Author: Tiago Amaral
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