Can PENGU Price Break Through Key Support and Continue to Rise

Pudgy Penguins (PENGU) saw a 11.65% price increase within 24 hours, reaching $0.01142, with a significant rise in trading volume and market capitalization. The price rebounded to the key support level between $0.0097 and $0.01 and tested the resistance level at $0.0110. If it can consistently break through $0.0110, the price is expected to rise to $0.015, indicating a bullish trend; conversely, if it fails to hold this level, it may test the support level downward. Technical indicators such as MACD show positive signals, and the increase in open interest (OI) and the buy-sell ratio on exchanges indicate growing investor interest, suggesting potential for further growth. However, caution is advised as increased leverage and selling pressure from holders transferring assets to exchanges may limit price gains. Monitoring OI trends is crucial for predicting future price movements. CoinGecko mentioned this in their market analysis.