PENGU Holds Key Support at $0.03600 With TD Sequential "9" Buy Signal Triggered

PENGU has triggered a potential reversal signal as it holds a critical support level near $0.03600, sparking optimism among traders and analysts about an upcoming recovery. The asset recently displayed a TD Sequential “9” buy signal, a widely used indicator in technical analysis suggesting a high probability of a trend reversal [1]. The price has stabilized near the lower boundary of a descending channel, reinforcing the possibility of a short-term upward move. PENGU was trading at $0.03760 at the time of reporting, having found support at a key demand zone [1].

Analyst Ali Charts highlighted that PENGU is consolidating near critical technical levels, with the TD Sequential forming a bullish setup [1]. This aligns with a strong trendline support and a bullish divergence on the RSI. The RSI has shown an upward shift despite lower price lows, indicating diminishing bearish momentum and strengthening buyer sentiment [1]. Similar patterns in the past have led to sharp rebounds from this support zone.

If PENGU breaks above $0.03840, it could confirm the reversal and attract more volume. Analyst Lennaert Snyder noted that a move beyond $0.04300 could lead to a test of $0.07300, aligning with a Fibonacci extension from the recent price movement [1]. The 20-day moving average is currently acting as support, and although momentum is slowing, the overall structure remains intact [1].

On-chain data also signals growing interest in PENGU, with the holder count reaching 563,000 and daily active addresses hitting 20,000. Derivatives and spot trading volume for PENGU has even surpassed that of Dogecoin in some key markets, indicating rising market activity and institutional or retail attention [1]. Analyst Niels observed that the surge in on-chain metrics reflects increasing confidence in the token’s short-term prospects.

Traders and analysts are closely watching $0.03600 as the critical level for the bullish scenario to remain intact. A breakdown below this level could invalidate the current setup and lead to further downside. However, the convergence of technical indicators, on-chain activity, and price behavior suggests that PENGU is at an inflection point [1].

Source: [1] PENGU Flashes TD “9” Buy Signal at Key Support, Here’s What Analysts Are Watching Next (https://cryptofrontnews.com/pengu-flashes-td-9-buy-signal-at-key-support/)