PENGU Holds At $0.03275 Key Support to $0.10 Target

Key Insights:

• PENGU eyes breakout as it nears $0.036 resistance, with upside targets up to $0.09691.
• RSI nears oversold zone while MACD shows bearish crossover, signaling short-term selling pressure.
• The weekly chart stays bullish, with prices above the 21-week EMA and a steady volume of 1.34 billion.

Pudgy Penguins (PENGU) is currently holding steady at a key support level near $0.03275. The token has seen wide attention from traders, analysts, and automated platforms, driven in part by growing interest in NFT-linked assets.

Bullish Forecast Eyes $0.10 Target

According to Crypto analyst Ali_charts, $PENGU could be preparing for a bullish breakout. He points to a descending channel pattern nearing completion on the 4-hour chart. 

As indicated by his technical breakdown, the key resistance sits around $0.03618, near the 0.786 Fibonacci retracement. If the price moves above this level, it could trigger a move toward $0.04662, $0.06433, and $0.09691.

He indicated that the support has remained above $0.02966, which helps maintain the structure. A break above the channel could open the door for the next leg up.

Bearish Signals Raise Short-Term Concerns

However, according to gemxbt Analysis, $PENGU is exhibiting a bearish structure after failing to sustain its recent upward momentum. Currently trading at around $0.03275, the asset faces key support at $0.032 and resistance at $0.036. 

As of press time, PENGU is trading at $0.031966, down 8.11% in the last 24 hours. The 24-hour trading volume is $605.4M. Technical indicators reinforce the downward bias, with the RSI trending toward oversold territory. The MACD has formed a bearish crossover, suggesting continued selling pressure in the short term.

The 5, 10, and 20-period moving averages are all showing signs of downward convergence, further confirming weakening momentum. $PENGU was the most mentioned ticker, highlighting significant community attention despite the current price decline.

Weekly Trend Remains Up 

Meanwhile, Ted Zhang has spotlighted $PENGU as one of his favorite charts across all markets, citing its strong performance and association with a top NFT project. On the weekly chart, $PENGU is trading at approximately $0.0356 after gaining 8.13% during the week, with a high of $0.0369 and a low of $0.0286.

Despite recent consolidation, the token remains well above its 21-week EMA ($0.0289) and 50-week EMA ($0.0195), indicating a sustained bullish structure. Token`s weekly volume remains healthy at 1.34B against a 20-week average of 1.98B.