Pudgy Penguins (PENGU) Targets $0.10 Rally Amid Support

$0.0345 Resistance Crucial to PENGU’s Bullish Breakout

Pudgy Penguins (PENGU) is flashing signs of a breakout as its support base has been defended by buyers. An upward position near $0.027 regained by the altcoin is a sign of increased buying. The immediate resistance is at the level of $0.0345, which has been both support and resistance at different points and in the past. An upwards push beyond this level could justify a turnaround to $0.038 and $0.044.

Analyst Ali noted that the token is moving into an uptrend, repeatedly bouncing back at the lower line, a confirmation of accumulation. The projection on his chart points out the possible direction of higher highs and lows, which are followed by a significant rally. The trend suggests increased confidence in buyers, as the asset develops a strong foundation above the support level. 

PENGUUSD 12-H CHART | SOURCE: X

Moreover, momentum indicators are in line with this view, showing that selling pressure is reduced while volume is picking up.

In a separate analysis, analyst Captain Faibik identified a bullish flag structure on the daily chart. This trend of continuation is often after a strong rally, which is an indication that the crypto might be positioning to make another upward shift. A major breakout zone is at $0.0376, where an effective break will lead to a possible target of $0.10, a 170% move. 

PENGU 1D CHART | SOURCE: X

Any failed attempt or divergence below the bottom line could, however, extend consolidation before the subsequent trend. The analysts’ views demonstrate that the market is strong, and the crypto is poised for a bull run.

PENGU Gains Momentum Amid Market Rebound

Across the crypto industry, the mood is positive as Bitcoin bounced back, motivating traders to re-enter mid-cap tokens. Inflows of liquidity are expanding, and the confidence in the market is on the rise following weeks of consolidation. This has reinvented hope in speculative assets such as PENGU, as a beneficiary of the recovery.

Moreover, the ecosystem is appealing to investors and developers,  giving strong support to the project. With increasing adoption, there has been improved community participation, which has contributed to the market activity and has raised regular trading. This further reinforces the bullish opinion.

In the short term, technicals favor buyers should the asset hold support above $0.027 and break through the mark of $0.0376 with a convincing volume. The current momentum, if sustained, could speed up the price to a higher level of about $0.10. At press time, the crypto is trading above $0.031, an early indication of recovery amid markets strengthening.