Analysts note increasing trading activity for the PENGU token, especially regarding the $0.015 level, which may become key for future growth.
PENGU Chart Structure and Ongoing Pattern
The PENGU chart shows a clean ascending triangle pattern forming. Horizontal resistance around $0.015–$0.0175 has capped the upside multiple times, yet buyers are still showing interest. A strong uptrend line continues to support the price as the structure remains stable and intact. 'Pudgy Penguins' has a lot of bullish factors, but confirmation of a rally requires a daily close above $0.015.
Fibonacci Analysis and Price Zones
Looking at Fibonacci retracement levels, $0.01245 (0.786 Fib) acts as solid support. If PENGU can clear the $0.015 barrier, potential price targets are set at $0.0266, $0.0332, $0.0456, and even $0.0592. On the flip side, should the breakout fail, support levels lie lower at $0.0106 and $0.0080.
Volume Behavior and Confirmation Signal
Every attempt to breach the $0.015 level has been met with resistance. However, the longer the price holds above the trendline, the more pressure builds on resistance. The last daily candle came close to closing above $0.015 but did not confirm the breakout. As the analyst points out, a daily close above $0.015 could trigger the next upward leg.
Currently, PENGU remains in a holding pattern, with the key question being whether it can break above the $0.015 level. Monitoring market dynamics and volume behavior will be crucial for the unfolding of this situation.
