Pangolin Price Prediction: 2024, 2025, 2030

PNG price prediction: Key highlights

1. Primary support and resistance levels

• The lowest support for PNG was identified at $0.01 on the weekly chart.
• On the upside, $1 could be the highest resistance.

2. Market sentiment

• In March 2024, the price movements reflected a strong uptrend, with the asset being slightly overbought.

3. Predictive forecasts

• Forecasts from AI/ML predictive models estimate the average price of PNG to reach $3 by the year 2026 and increase to $28 by 2029.

Get valuable insights on PNG via a comprehensive weekly technical analysis, followed by the coming days of the month, upcoming months, and yearly forecast tables derived from our AI/ML-based predictive models:

PNG technical analysis: Market debates future direction amid consolidation

The journey of Pangolin (PNG) through the past year encapsulated the complex landscape of decentralized finance (DeFi). This examination of technical patterns laid the groundwork for Pangolin price predictions for 2024 and beyond.

At the outset, PNG grappled with bearish dominance, a trend that was not uncommon in the cryptocurrency domain. An increase in selling pressure led the price break below $0.04 towards the end of April. This set the stage for a prolonged descent. 
 

Continuous declines led the price to fall back on its lowest support for the analyzed time frame at $0.01 in mid-September. Towards the end of September, PNG witnessed some positive price movements, indicating the bulls were preparing to initiate another rally. 

In November, the price broke past the previous support turned resistance at $0.04. Moreover, by mid-month, it had successfully surpassed $0.06. Subsequently, a new resistance level was established at $0.13, which led to a minor retracement. 

The price’s retest of this resistance in mid-December led to rejection again. Yet, $0.06 acted as a strong floor to prevent further declines. A significant pump in the token's price enabled it to overcome this resistance in mid-February. This marked a departure of the token from its previous struggles, signaling renewed activity and optimism.

The latter part of February saw PNG reaching a new peak resistance of $0.53, thereby redefining the $0.35 mark as a new support level. This recent upswing was indicative of the burgeoning enthusiasm for community-led DeFi projects, reflecting a broader trend of investor interest in decentralized solutions. As the analysis period concluded, PNG was trading at $0.37.

This slight drop was indicative of a correction. Nevertheless, the bulls have halted further declines at the current support level, leading the price to consolidate.
 

The shadows of a further drop still loom large, prompted by concerns of overvaluation. A bearish breakout hints at the possibility of regression towards $0.23, with risks of further declines to $0.13 if the price falls below this level. 
 

Conversely, there is room for optimistic speculation if the bulls manage to stave off this correction. A bullish breakout suggests a short-term rise to $0.9 and a more ambitious target of over $1 within the year under favorable market conditions. This psychological mark can also prove to be a point of resistance to the price.

Looking ahead, the predictive models project a robustly optimistic growth trajectory for PNG. Milestones of reaching an average price of $3 by 2026 and potentially $28 by 2029 underline the long-term confidence in the altcoin's market position.

PNG's 2024 roadmap: Key indicators to watch and trade

• The Moving Average Convergence Divergence (MACD) line, along with its signal line, remained below the zero line for the majority of the time. Notably, the MACD line was consistently above the signal line, and both sustained an ascending momentum. It hinted at underlying bullish potential despite the overall downtrend.
• This upward momentum culminated in the MACD line moving above the zero line in mid-November. The signal line followed suit towards the end of the month, signaling a shift in market sentiment.
• Despite the positive momentum, the MACD line experienced a temporary dip in February, narrowing its gap with the signal line. This convergence suggested a potential slowdown in bullish momentum. However, the MACD line resumed its ascent, with its current value at 0.08880, the signal line at 0.05540, and the histogram indicating bullish dominance with a value of 0.03340.
• The 50-week Exponential Moving Average (EMA) acted as dynamic resistance until mid-November, despite a brief dip below the 50 EMA in the latter half of January. A significant surge in mid-February propelled the price above this level once more, indicating a strong bullish push.
• The 20-week EMA also served as resistance until the start of November. The major price surge in February not only pushed the price above the 20 EMA but also caused the 20 EMA to cross above the 50 EMA. This golden cross suggested a lasting bullish trend.
• The trading volume began on a low note. However, a gradual recovery in volume was noted towards the end of September, with further spikes as the price increased. 
• A volume drop in mid-December coincided with price rejection at $0.13. Yet, a notable recovery in both price and volume was observed in mid-February, aligning with the overall improvement in market sentiment.