Pudgy Penguins Eyes 0.044 After Breaking Key Resistance With Bullish Volume

Pudgy Penguins (PENGU) has shown signs of stabilization after reclaiming key support at $0.0315, a level backed by strong volume. This comes after a recent decline that saw the token fall 17% for the week, despite a 4% gain in the last 24 hours. The TD Sequential indicator has triggered a “Buy 9” signal, often seen as a sign that a bearish phase is nearing its end. At $0.03531, PENGU appears to be consolidating, with analysts watching for a breakout above $0.036 to confirm a short-term recovery [1].

The 4-hour chart indicates a potential path for further gains, as PENGU recently broke out of a broadening wedge pattern by surpassing the $0.036–$0.037 resistance range on increased volume. This move strengthens the case for a continuation toward $0.044. The Supertrend indicator remains active at $0.03838, acting as immediate resistance. A close above this level would be a critical confirmation of bullish momentum. Meanwhile, the RSI stands at 53, showing improving momentum without entering overbought territory [2].

Whale activity has also supported the case for an upward move. In the past 24 hours, PENGU recorded over $3.76 million in whale inflows, placing it at the top among large-cap meme tokens. These inflows suggest growing institutional interest and align with key technical levels, reinforcing the possibility of a sustained recovery. Analysts like Ali Martinez have emphasized the importance of $0.0315 as a strong base for buyers and noted that a sustained move above $0.036 could lead to a rebound toward $0.044. Failure to hold this level would shift the focus toward $0.0275 [3].

Short-term conditions remain constructive, with PENGU’s former resistance turning into support. CryptoBull_360 highlighted that the token’s setup favors continued strength as long as the $0.036 level is maintained. Analyst K A L E O has speculated on a long-term price target of $4.2069, though this is considered highly speculative and not reflective of immediate expectations [4].

Despite these technical and on-chain positives, traders are cautioned to remain wary. The broader weekly decline and the need for sustained volume to confirm bullish momentum mean that while short-term conditions are favorable, the longer-term outlook remains uncertain. The next critical test for PENGU will be its ability to break and hold above the $0.03838 Supertrend level, which remains the key hurdle for a more significant upward move [5].

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[1] https://cryptoadventure.com/pengu-eyes-0-044-after-holding-key-support-zone/