PENGU is holding a key $0.027 support as participants watch whether fresh NFT market strength can spark the token’s next major rebound.
PENGU has reached a make-or-break zone, with its price hovering around a key support that could decide the next big move. Despite recent pressure, traders are closely watching whether renewed NFT market strength and repeated defenses of this level can spark a rebound.
Bullish Activity Returns to PENGU’s NFT Market
NFT markets lit up with strong gains, and Pudgy Penguins (PENGU) stood out with a 21.8% surge, placing it among the top performers of the day. Trading volumes hit $1.79 billion, showing that liquidity is flowing back into PENGU’s ecosystem at a notable pace. With NFT sales volume across blockchains soaring by nearly 200% to $50 million, market sentiment is clearly shifting back to risk-on behavior.
PENGU surges 21.8% as NFT volumes rebound, highlighting renewed strength in its ecosystem. Source: Umair Crypto via X
For PENGU, this kind of NFT strength could translate directly into price momentum on the token side. As Umair Crypto pointed out, PENGU is outperforming many peers, and if this trend continues, it sets the stage for a bullish PENGU price prediction.
Channel Support and Fibonacci Levels in Play
Analyst kims0516 pointed out that PENGU’s structure is heading towards either the channel bottom or a critical Fibonacci level. These zones often act as inflection points, making them highly significant for participants. On the chart, the 0.382 Fib level aligns closely with near-term support, adding weight to the $0.0250 to $0.220 area.
PENGU nears key Fib and channel support, with $0.025 holding as the line between rebound and deeper downside. Source: kims0516 via X
If price tests the lower boundary of the channel, it could provide a launchpad for another bounce higher. However, slipping below $0.025 risks exposing $0.022 as the next crucial level. Holding above these zones would keep the mid-term bullish narrative intact, while a breakdown would temporarily shift momentum further towards the bears.
Bearish Pressure Mounts Around $0.027
PENGU is facing mounting bearish pressure at $0.027. Moving averages confirm a downtrend, with MACD lines crossing bearish and RSI hovering near oversold territory. This mix suggests weakness but also sets up potential for a short-term rebound if buyers step in.
Pudgy Penguins struggles at $0.027 as bearish signals build, though a short-term bounce toward $0.029 remains possible. Source: Ai4Alpha via X
According to Ai4Alpha, a bounce could lift the price back towards $0.029, providing intraday participants with scalping opportunities. However, a clean break below $0.027 could accelerate downside, exposing $0.025 or even $0.022. The setup remains high-risk, with participants closely watching how Pudgy Penguins behaves around this key pivot.
PENGU Price Prediction: Bulls Eye Rebound
While most of the analysts have sided with bearish outlooks, analyst Freedom by 40 offered a more optimistic perspective, emphasizing that PENGU’s long-term structure remains constructive despite short-term volatility. The chart shows that price has repeatedly respected key trendlines, and as long as $0.02s holds, the possibility of a rebound towards $0.035 to $0.040 remains open.
Pudgy Penguins PENGU holds key trendlines with bulls eyeing $0.035–$0.040 if $0.032 is reclaimed. Source: Freedom by 40 via X
If bulls manage to reclaim $0.032 in the coming sessions, a bullish reversal could take shape. For investors, this makes the current range critical: hold the base, and the next leg higher becomes increasingly probable.
Final Thoughts
PENGU sits at a pivotal moment. On one side, bearish charts underline the risk of further downside if $0.027 breaks decisively. On the other hand, bullish analysts argue that strong NFT sector flows and repeated defenses of support could trigger another rally.
For participants, the playbook is simple: watch $0.027 as the main short-term level. Holding above it keeps the path open towards $0.035 and beyond, while losing it signals a deeper correction.
As the NFT market continues to grow and Pudgy Penguins maintains its strong presence, the short-term correction could be an opportunity for the holders aiming for new all-time highs in Q4 of 2025.