PENGU Cryptocurrency Surges 4% After Breaking Key Resistance

PENGU, a cryptocurrency, has recently broken through a significant resistance level at $0.016, currently trading at $0.016728. This breakout is part of an ascending triangle pattern that has been forming since March, with the pattern beginning near $0.0038. The chart indicates a potential rise towards $0.044, with Fibonacci extensions showing $0.0187, $0.0270, and $0.044 as the next projected zones on the breakout path.

Analyst Ali has commented on the breakout, stating that the token may surge further if it holds above the key breakout point of $0.0161, which has now flipped to support. The chart, shared via TradingView on July 4, 2025, outlines a bullish Fibonacci extension targeting higher zones. The price structure displays an ascending triangle pattern building since March, followed by a strong breakout in early July. Fibonacci retracement levels confirm this momentum, with $0.044488 marked as the 1.786 extension. The analysis suggests that continuation above this breakout could lead to price discovery and new short-term highs.

The long-term ascending triangle pattern began forming near $0.003867 in March 2025. The trendline runs cleanly through multiple low points, building strong support over time. This trendline meets recent price action near the 0.618 retracement level around $0.0107. As of July 4, PENGU’s daily candle closed above the horizontal resistance at $0.016, confirming the breakout. The pattern aligns with bullish technical setups where consolidation leads to expansion above key levels. The Fibonacci extensions display several potential targets, including $0.0190, $0.0270, $0.0359, and the top marker at $0.0444.

The sharp recovery began in late June after the price touched $0.0101, followed by an immediate push toward the breakout zone. Trading activity accelerated, with the uptrend supported by volume and market engagement across crypto platforms. The Fibonacci extension tool was used to project potential resistance levels for PENGU beyond its breakout. Levels from 0.236 to 2.0 were plotted using a low-to-high structure that captures previous price movement. The 1.0 Fibonacci sits exactly at $0.0161, which PENGU surpassed during the latest surge. The 1.272 level shows a possible next reaction zone near $0.0187, followed by $0.0223 at the 1.414 mark. If momentum continues, the next milestone sits at $0.0305, then $0.0444 as the extended target. This progression relies heavily on PENGU holding above $0.0161 in the coming sessions.

Should the price fall back below that level, prior supports at $0.0121 and $0.0107 may become relevant again. One user on X warned that “if it closes below that today, we will likely retest previous support.” However, current market structure still points upward. Ali posted the breakout chart on July 5 with the caption, “Resistance broke, and $PENGU could reach $0.044!” His analysis reached over 28,700 viewers, gaining 338 reposts and more than 60 replies. The sharp breakout confirmed the bullish chart structure. Social media sentiment reflected growing optimism. One user declared, “Let’s go,” while others called it the “surprise altcoin” for the current cycle. The market appears to be watching the $0.0190 to $0.0270 zones for signs of follow-through. The price at $0.016728 remains near the Fibonacci pivot, which may act as a launching point for the projected extension. If PENGU sustains current volume and chart strength, it may follow the projected path toward $0.044.