PENGU Price Holds $0.0116, Signals Possible Recovery Toward $0.0136

Pudgy Penguins has announced a landmark collaboration with Premier League powerhouse Manchester City, bringing fans an exclusive line of premium collectibles and merchandise. This partnership merges the playful charm of Pudgy Penguins’ NFTs with Manchester City’s global brand, offering fans a unique way to celebrate their favorite football club while exploring the growing world of digital collectibles.

This partnership demonstrates how sports and NFTs are merging to create new experiences for fans around the world. Expect limited-edition items that combine digital art with physical items. Details on the date of the launch and how to access them will be announced soon, which is expected to create excitement for both fans of Pudgy Penguins and Man City fans.

Also Read: Pudgy Penguins (PENGU) Buy Signal Points Toward $0.0138 Target

PENGU Technical Outlook Suggests a Cautious Momentum

The price decreased from early November to mid-December from around $0.008 to $0.009. Then, there was a slight rise in early January, which pushed the price above the 20-day EMA, and there is resistance at the 50-day EMA.

Now, it is ranging around $0.0116, slightly above the 20-day EMA but below the 50-day EMA, with the larger EMAs well above. This indicates that the trend is still bearish.

Source: TradingView

The MACD indicator reflects that the MACD line is close to the Signal line, and the Histogram is also close to the zero line, which indicates that the momentum is weak.

A bullish crossover in the early part of January has stalled, which indicates that the buying momentum is weakening. This indicates that there might be a short-term correction or a period of stagnation.

PENG Price Holds $0.0117: Rebound to $0.0136 in Sight

However, the crypto analyst, Ali, pointed out that The strength of PENGU is maintained by being above the significant support of $0.0117. According to traders, maintaining this support is what helps the possibility of a bounce remain, targeting $0.0136. Momentum in the short term may see the entry of buyers, which will help in the possibility of a bounce.

Source: X

Market analysts believe that although there are indications of strength, market volatility remains high in the case of this token. Investors are advised to keep a close watch on market prices since market fluctuations are quick to change market sentiment. However, if the token price remains constant in the market, a steady increase towards $0.0136 may be possible.

Also Read: Pudgy Penguins Rallies 14% as Price Targets $0.016, $0.025, & $0.035