The crypto market welcomed significant gains this week amidst renewed investor confidence. Alongside top assets, Pudgy Penguins (PENGU) also posted a double-digit rally over the past 24 hours. The meme coin is up by more than 12% during this timeframe.<\/p>\n
But the latest data shows that the upside may not be over just yet.<\/p>\n
According to Ali Martinez, the Pudgy Penguins token could be preparing<\/a> for a major move. PENGU is showing several positive signals on its weekly chart. The analyst pointed to a squeeze in the Bollinger Bands. The bands have drawn closer together, which means that volatility has fallen. Moves like this often happen just before volatility picks up.<\/p>\n Other indicators are also turning positive. The Tom DeMark Sequential, for instance, has flashed two buy signals on the weekly chart. The first was a 9 setup. It was followed by a Combo 13 signal. Martinez explained that the combination could point to the start of a new bullish countdown.<\/p>\n The Parabolic SAR has turned bullish as well. Its dots are now below PENGU\u2019s price. This suggests that the current trend is gaining strength and could offer support during a potential move higher. The SuperTrend indicator has issued a buy signal. The analyst observed that a similar signal in the past was followed by a 1,156% rally. However, past performance does not guarantee<\/a> another run-up of the same size.<\/p>\n At $0.00897, PENGU is currently trading inside a parallel channel, according to the analysis. The first major level is around $0.025. A breakout could push the meme coin toward $0.045, a level that Martinez estimates would mean roughly 400% upside from its current price. For now, though, the move still depends on PENGU breaking out and holding above the crucial resistance.<\/p>\n The recovery was not just limited to PENGU. Other meme coins have also witnessed strong gains recently. PEPE climbed by more than 25% over the past day. Next up was dogwifhat (WIF), which followed with nearly 20% gains. BONK jumped over 16% during the same period.<\/p>\n Meanwhile, OG meme coin Dogecoin (DOGE) gained more than 12%. Its rival, Shiba Inu (SHIB), also posted<\/a> a modest surge of around 7%.<\/p>\n The post PENGU Bull Run Incoming? Rare Cluster of Bullish Signals Spotted<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" The crypto market welcomed significant gains this week amidst renewed investor confidence. Alongside top assets, Pudgy Penguins (PENGU) also posted a double-digit rally over the past 24 hours. The meme coin is up by more than 12% during this timeframe. But the latest data shows that the upside may not be over just yet. Pengu […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-230737","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/230737"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=230737"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/230737\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=230737"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=230737"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=230737"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Broad Buying Pressure<\/h2>\n