PENGU Forms Bullish Cup-and-Handle Pattern Amid Growing Buy Pressure

PENGU, the token of the Pudgy Penguins NFT project, is showing strong technical signals that have drawn the attention of crypto analysts, suggesting a potential price rebound. Multiple indicators, including TD Sequential and the Relative Strength Index (RSI), are aligning in a bullish pattern, reinforcing the possibility of an upward move. A recent analysis from Ali_charts highlights a buy signal on the TD Sequential at a key support level, with the price currently resting on a trendline that has historically acted as a solid base during previous corrections.

The RSI is also displaying a bullish divergence, indicating that the buying pressure is increasing despite the price not yet showing a clear upward trend. This divergence often precedes a breakout, as seen in several past market cycles. In addition, PENGU is trading near the lower boundary of a well-defined price channel, a classic setup for a potential reversal or continuation rally [1].

Analysts such as Web3Niels have pointed to a possible continuation of the uptrend, with a price target of $0.15–$0.20 by the end of 2025. According to the analyst, PENGU has already shown strong momentum following a significant bottom in April 2025, with a 10x rally observed despite an earlier 90% correction after its airdrop [1]. The airdrop distributed approximately $1.5 billion to 760,000 wallets in late 2024, further boosting the token’s adoption.

Currently, PENGU is reported to have 563,000 holders and 20,000 daily active addresses, surpassing DOGE in terms of demand and user activity. This growing interest is reflected in the token’s market performance, with a 24-hour trading volume of $790.8 million at the time of writing, despite a 6.24% decline in a single day [1].

The price chart also indicates a classic cup-and-handle pattern forming above the key support level of $0.039, a technical formation often associated with a continuation of the bullish trend. Analysts believe that a break above $0.15 could trigger further buying interest and potentially push the token toward the projected $0.20 level by the end of next year.

While the market outlook remains optimistic, investors are advised to conduct thorough research and remain cautious given the volatility inherent in the crypto space. The signals presented are based on technical indicators and market commentary and do not constitute investment advice [1].

Source: [1] Bullish Divergence Detected: Is $PENGU About to Explode? (https://coinmarketcap.com/community/articles/688a1877c4e32d555c37f9fb/)