Market Overview for Pudgy Penguins/Tether (PENGUUSDT) – December 24, 2025

Summary
• Price formed a bullish engulfing pattern near 0.008735.
• RSI indicated oversold conditions during the overnight dip.
• Bollinger Bands narrowed before a sharp breakout to 0.009165.
• Volume spiked sharply during the afternoon rally, confirming strength.
• Fibonacci 61.8% level coincided with key resistance at 0.008915.

Pudgy Penguins/Tether (PENGUUSDT) opened at 0.008839, hit a high of 0.009263, a low of 0.008614, and closed at 0.009165 on December 24 at 12:00 ET. Total volume reached 214.85 million, with a notional turnover of approximately $1.97 million across the 24-hour window.

Structure & Formations

Price action displayed a strong bullish reversal near support at 0.008735, marked by a classic engulfing pattern after a 5-hour decline. A key resistance at 0.008915 (61.8% Fibonacci retracement) was briefly tested and then decisively surpassed. A morning range expansion between 0.00875 and 0.00880 was followed by a breakout to the upside, suggesting accumulation.

Moving Averages and Momentum

The 20-period and 50-period moving averages on the 5-minute chart were well above price for most of the day, reflecting strong momentum. RSI bottomed near 25 during the overnight selloff and closed near 55, indicating re-entry into neutral territory. The MACD crossed above zero in the early afternoon and maintained a positive trend through the close.

Volatility and Volume

Bollinger Bands showed a tight contraction before 03:00 ET, followed by a sharp expansion and a breakout to the upside. Volume surged during the 16:45–17:00 ET rally, with a massive 147.1 million traded in that 15-minute window, confirming strength in the move toward 0.009165. Volume and price action aligned well, with no major divergences noted.

Forward Outlook

The pair appears to have reestablished a short-term bullish bias, with 0.009263 as the next near-term resistance level. A retest of the 0.008915–0.008935 zone is likely before a continuation. Investors should remain cautious of potential pullbacks toward 0.008815–0.008835 if volume fails to hold above 10 million in key reversal windows.