The price of PENGU has fallen by about 10% over the past 24 hours after it became the largest Meme Solana coin. Despite the recent popularity, the asset impulse slowed down, with technical indicators that suggest potential consolidation or further drawback.
The relative force (RSI) index fell sharply from 70 to 52.3, which indicates a decrease in the pressure pressure. However, if the hype of the ping can restore the impulse and check the levels of the key resistance.
PENGU RSI quickly falls
The relative force (RSI) index is currently 52.3, which is a significant fall compared to yesterday’s 70 processing level. RSI is a widely used pulse indicator, which measures the speed and value of prices in a scale from 0 to 100.
The values above 70 usually indicate the conditions of bite, which suggests the potential for the rollback, while the values below 30 conditions of the resold signal, often indicating a possible recovery. RSI about 50 indicates a neutral impulse, where the purchase and sale of pressure is relatively balanced.
With RSI Penguu is now 52.3, the indicator implies the consolidation period in the short term. This level reflects a decrease in purchasing activity compared to recent maximums, but still retains a slightly optimistic bias. If the RSI persists stable or moves higher, this can signal the renewal of the pulse up.
Conversely, further fall below 50 may indicate weakening bull sentiments, potentially leading to additional price consolidation or a slight decrease. If this happens, Pengu can be surpassed by a bonk as the largest coin of Solana’s memes.
The Pengu DMI diagram shows that the descending trend can become stronger
The average Pinga Direct (ADX) is currently 36.6, which significantly increases from 20 only three days ago. ADX measures the trend on the scale from 0 to 100, and the values above 25 indicate a strong trend and below 20, which indicates a weak or missing pulse.
The growing ADX means an increase in the strength of the trend, regardless of whether the tendency of bull or bear is.
Meanwhile, the indicators of the direction give an idea of the nature of the trend. +DI, which represents the pressure on the purchase, decreased to 25.4 from 35 days ago, which indicates a weakening of a bull pulse. Conversely, -DI, reflecting the pressure of sales, increased to 14.6 from 8.4, signaling the growing bear activity.
If +DI continues to fall, and -DI increases further, the price of the ping may encounter increased sales pressure, confirming the bear carrier in the short term.
PINGU price forecast: will it fall again in 0.03 dollars?
The Pengu EMA lines are currently offering bull settings, but the recent pricing action indicates that the coin can be included in the descending trend. If a bear pulse intensifies, Pengu can check support at 0.034 dollars.
The inability to maintain this level can lead to a further decrease, while $ 0.0296 and $ 0,0251 become key levels for observation. The latter is located next to the historical minimums of Ping.
On the other hand, in recent weeks, Pengu has attracted considerable attention, entering the 10 best ratings among the largest coins. If the hype surrounding the coin is revived, Pengu can re -check the resistance of $ 0.0439.
A breakthrough is higher than this level, in combination with an updated bull impulse, can lead to the fact that the price of the ping is the first time higher than 0.05 US dollars.
