PENGU Price Consolidates Awaiting 20-30% Rally

PENGU, a digital asset, has recently formed a bullish pennant pattern, indicating a potential for a significant short-term rally. The price has been consolidating within a range of $0.032 to $0.038, showing market strength and rising confidence in a breakout. The formation of this pattern suggests that PENGU could experience a 20-30% short-term rally if it breaks above the upper boundary of the pennant.

The price of PENGU has been holding above $0.030 with strong volume, supporting the breakout potential toward $0.045. The asset's price action has established a symmetrical triangle on lower timeframes, with the price flipping a key resistance into support. This creates a foundation for renewed upward movement. A breakout above the pennant’s upper boundary could lead to a 20-30% short-term rally, according to analysis prepared by CryptoBull_360.

PENGU's price structure remains intact as buyers continue to step in during dips, demonstrating resilience. The asset is showing signs of accumulation, which adds to the possibilities of a breakout from the current consolidation. The price has consistently held above $0.030, forming higher intraday highs. The volume remains robust, supporting the possibility of further price gains.

PENGU is consolidating within a box range between $0.032 and $0.038. This range-bound movement after an earlier rally suggests a healthy consolidation rather than market weakness. Breaking above this upper boundary, backed by strong volume, could open targets between $0.043 and $0.045. Support levels near $0.0305 and $0.028 remain firm, with sustained buying activity and structural integrity suggesting that PENGU is positioning for a breakout, potentially setting new highs in the coming sessions.