TLDR:
- PENGU tests $0.031–$0.033 support, aligning with 200 EMA and 0.382 Fibonacci level.
- Downside risk rises if BTC drops, with $0.027 as next key support level.
- Price retest targets $0.037 near-term, with potential to reach $0.046 highs again.
- Accumulation zone strengthens as volume stabilizes, signaling controlled pullback in PENGU.
Pudgy Penguins (PENGU) is back in focus as it tests a crucial support zone around $0.031–$0.033. Traders are watching Bitcoin’s movement, knowing PENGU’s near-term trend depends on BTC.
Analysts highlight that this level combines multiple technical signals, including the 4-hour 200 EMA and a Fibonacci retracement. The market has seen a modest pullback after a July breakout, yet PENGU remains a contender for mid-to-long-term gains.
Volume remains stable, suggesting the decline is orderly rather than panic-driven, according to CoinGecko data. At press time, the memecoin trades at $0.03192, down over the past day and week.
Key Support Zones and PENGU Price Dynamics
Crypto analyst Altcoin Sherpa noted in a tweet that PENGU had never been filled at this region before, making it a high-confluence support test. The current support range around $0.0317–$0.0334 aligns with the 0.382 Fibonacci retracement and the 200 EMA on the 4-hour chart.
Historical support/resistance flips further strengthen this zone as a potential local bottom. Traders are monitoring how PENGU reacts here before planning long-term positions.
$PENGU I never got filled before and was patiently waiting for this region, the 200EMA 4h + 0.382 fib + S/R region. I think that it could chop around here and form a local bottom but its really dependent on what BTC does. If BTC legs down, this 1 probably goes to $0.027. Still,… pic.twitter.com/KOpGyg0tlh
— Altcoin Sherpa (@AltcoinSherpa) August 15, 2025
If support fails, Sherpa identifies $0.0271 as the next key level, followed by deeper supports at $0.0226 and $0.016. Overhead resistance appears near $0.0374, with higher targets at $0.0466, where previous swing highs occurred.
These levels give investors benchmarks to measure upside potential and downside risk. Volume has remained steady, indicating buyers and sellers are in balance.
Lennaert Snyder, another analyst, reinforced the $0.03 support, warning that a liquidity dip might precede bullish momentum. He noted that $0.043 is the last resistance before a potential price discovery phase.
Traders are advised to track liquidation levels closely to avoid forced exits. Stability in this zone could confirm a local bottom.
$PENGU still holding key $0.03 support.
If PENGU holds, I expect bullish momentum into the $0.043 rangehigh again.
A dip in liquidity before continuing up is possible, watch liquidation price.
$0.043 is the last stop before price discovery.
Send the @pudgypenguins.
— Lennaert Snyder (@LennaertSnyder) August 15, 2025
PENGU’s Mid-to-Long-Term Outlook
TimelessBeing highlighted PENGU’s standing as a major crypto IP with strong community awareness. According to their analysis, the chart’s quarter view and volume-weighted average price (QVWAP) suggest any pullback is a buying opportunity.
Analysts see a mid-to-long-term bullish bias if BTC remains stable. This indicates potential sector expansion as PENGU could influence multiple market areas.
Accumulation zones currently lie between $0.031 and $0.033, with the market waiting for a decisive move. If BTC weakens sharply, the downside risk to $0.027 remains.
Conversely, forming a local bottom here may lead PENGU to retest $0.037 and eventually reach prior highs near $0.046.
Stable volume and technical convergence provide traders with clarity on market behavior. Analysts continue to emphasize that BTC trends are the primary driver for PENGU price action.
The post PENGU Price Approaches Local Bottom; $0.027 Risk Looms if BTC Weakens appeared first on Blockonomi.
Source: https://blockonomi.com/pengu-price-approaches-local-bottom-0-027-risk-looms-if-btc-weakens/