Pudgy Penguins (PENGU) token price has started to attract attention after breaking out of a long-standing sideways range.
Analysis of the PENGU Price Breakout
PENGU price was moving within a range of $0.045 to $0.065 for an extended time, but recently experienced a breakout. A strong daily candle pushed price above that level, indicating bullish confidence. Since then, the price made a bounce and is forming higher lows.
Volume Expansion Supports Bullish Trend
As the price increased, trading volume consistently grew, indicating strong buying interest. Visual cues on the chart do not show signs of weakening demand at this stage. The momentum structure remains in favor of continuation as long as the price stays above $0.15.
Potential Price Movement Scenarios for PENGU
If current momentum continues, bulls may test the $0.40–$0.46 resistance range. A breakthrough in this zone could lead to a new price all-time high. However, if price falls below $0.15, it could nullify the bullish breakout and shift focus back to the accumulation zone.
The current technical outlook for Pudgy Penguins price indicates a sustained bullish sentiment in the market, supported by rising volume and the formation of higher lows.
