The cryptocurrency Pudgy Penguins (PENGU) shows signs of potential future growth after breaking through an important resistance level. Analysts express optimistic forecasts regarding its price.
Current Situation of PENGU
As of July 6, 2025, PENGU's market cap is just shy of $1 billion. Over the past week, the asset has seen a nearly 20% rise, despite a slight dip of 1.31% in the last 24 hours. The 24-hour trading volume exceeds $234 million.
Technical Analysis and Forecasts
Chart analysis indicates that PENGU is forming a classic ascending triangle pattern, with a breakout point around $0.0155. This bullish structure suggests increasing upward pressure and a potential surge once resistance is breached.
Support and Resistance Levels
Key support and resistance levels for PENGU are as follows:
* Immediate support: Around $0.01330 (previous trendline support) * Current resistance: Around $0.017 (minor resistance post-breakout) * Major target: $0.044 (projected breakout target)
With momentum building and strong technical signals, PENGU may be positioned for a notable rally, provided it holds above support and volume remains elevated.
