The Pudgy Penguins (PENGU) token shows signs of potential growth after reaching a key support zone at $0.0315.
Key Support and Buy Signal
PENGU is showing signs of a bounce after touching a key support zone at $0.0315. On the 12-hour chart, the price reached a level that has seen strong trading activity in the past. Crypto analyst Ali Martinez noted that this area is an essential base for buyers.
> "$PENGU has hit a key support level at $0.0315, backed by strong volume profile demand. With the TD Sequential flashing a buy signal, a sustained move above $0.036 could ignite a rebound toward $0.044!" — Ali (@ali_charts)
If the asset moves above and holds $0.036, the next target sits near $0.044. If $0.0315 fails to hold, the next support area could appear near $0.0275.
Price and Market Behavior
PENGU trades at $0.036 with a 24-hour volume of over $635 million. The token is up 4% over the past 24 hours but remains down 17% for the week. This shows that while the short-term trend is turning up, the broader pullback has not fully reversed.
On the 4-hour chart, the Supertrend indicator (10,3) is red at $0.03838. This level acts as short-term resistance. A close above it would signal that the market is ready for a stronger recovery. The Relative Strength Index (RSI) sits near 53, indicating improving buying pressure while still leaving room before overbought levels.
Breakout Pattern and Short-Term Setup
A 4-hour chart shows a broadening wedge pattern. The asset recently pushed above horizontal resistance around $0.036–$0.037 with rising volume. This breakout points to an upside move toward $0.046, which is about 26% above the breakout area. The former resistance zone has now turned into support. As long as PENGU holds above $0.036, short-term conditions remain favorable.
Analysis points to a possible upward move if the $0.036 level holds. Short-term bullish action is expected, supported by volume growth.
