PENGU Price Prediction: Bullish Trend Eyes $0.05 Target Soon

PENGU Price Prediction: Bullish Momentum Aims for $0.05 Soon

As today, on July 23, is Pengu's 4th anniversary, the memecoin is gaining much attention and is set to set new records. The latest price witnessed a modest gain, closing at $0.03778 with a 3% increase on July 22, 2025. The Pudgy Penguins continued to trade within a rising parallel channel, indicating sustained bullish momentum in the short term.

Since the end of June, PENGU has experienced an upward trend, continuously regaining momentum with a sharp spike through the $0.03 support. The price was continuously playing along the channel boundaries, recording higher highs and higher lows on daily chart levels. The PENG price has seen a strong surge of more than 10% over the past week, following the bull trend.

Is PENGU Price Set to Soar Higher?

Crypto analyst Ali has signaled a breakout moment for the price, suggesting a strong upward momentum. According to his latest analysis shared via X, the token appears to be exiting a consolidation pattern.

Ali Charts breakout analysis

In a chart he shares in a post published on July 22, he throws a clear breakout above resistance, which is supposed to keep going on very steeply upwards. The breakage is related to his earlier forecast that was made on July 20, in which he predicted an upward trend towards the $0.075 mark.

The chart reflects the continuous development of the PENGU higher lows in the narrowing range. This is a classical trend that many times lead to substantial price change. The latest surge could mean that investors are regaining their confidence and a possible change in trend.

PENGU Shows Bullish Cup and Handle Breakout Potential

The cryptocurrency PENGU is drawing attention as it approaches a potential breakout from a bullish "cup and handle" pattern. Technical analysts are eyeing the \$0.037 to \$0.040 resistance level as a critical zone. 

Source: Tweet

A breakout above this level, therefore, could lead to a strong buying momentum, and it could also result in a price uptick. The pattern, a bullish sign typically indicating the path of higher momentum, is approaching its end, which is boosting investor hope.

If the momentum holds and breaks the resistance, PENGU may well exceed those much higher price levels.

The bullish mood was affirmed by the technical indicators. The relative strength index (RSI) ended the day at 82.35 and was overbought, indicating robust upside pressure. Nevertheless, the RSI has continued to linger above 70-point mark, indicating that buyers were the ones in charge.

Source: TradingView

Moving average convergence divergence (MACD) histogram had a rising bullish momentum. The MACD line had previously crossed above its signal line promptly in July and the present divergence justified further resilience in the volume of buyers.

Key Levels To Watch?

Resistance at $0.04 appeared to be under pressure, with multiple recent attempts to break above. If the price manages a clean breakout, the next target could be the psychological level at $0.05. This level may serve as the next major hurdle for bulls.

Nevertheless, traders have to keep their eyes on the bottom trend line of channel and the support of 0.03. A down break would precipitate a near term correction.