Pudgy Penguins (PENGU) Price Prediction: Triangle Pattern Builds Breakout Pressure With $0.07 Target in Sight

Pudgy Penguins is consolidating within a symmetrical triangle, with participants watching closely for a breakout toward the $0.07 target zone.

Crypto community is keeping a close eye on Pudgy Penguins as the chart forms a tightly wound symmetrical triangle, often a signal that a big move is just around the corner. Recent price action shows buyers stepping in at higher lows while volume steadily drops. If the breakout goes in the bulls’ favor, measured targets point towards the $0.07 zone, marking what could be a sharp move from current levels.

Triangle Pattern Points to Potential Upside For Pudgy Penguins

Pudgy Penguins is currently consolidating within a well-defined symmetrical triangle, as shown by crypto analyst Pick. Price action has been coiling tightly between the converging support and resistance lines, with volume gradually tapering off, a classic sign of breakout pressure building. The support trendline has held firm over the past few retests, keeping the broader bullish structure intact while buyers continue defending higher lows.

Pudgy Penguins consolidates within a symmetrical triangle, eyeing a breakout towards $0.07. Source: Pick via X

If the breakout confirms to the upside, measured move projections place the next target zone around the $0.07 mark. The volume profile also suggests strong participation from the July rally, indicating that a decisive close above resistance could invite momentum traders back into the market.

PENGU Order Book Shows Strong Buy Support Against Limited Sell Pressure

The latest order book data for PENGU reveals a market leaning heavily toward buyers, with multiple large bid orders stacked between $0.03287 and $0.03296. This dense cluster of buy-side liquidity suggests strong underlying demand and a willingness from participants to absorb short-term dips. On the sell side, resistance appears more concentrated, with only a couple of major orders, most notably a single large wall at $0.03303, standing in the way of further upside. Analyst Acomathor Dave’s observation captures this imbalance perfectly, showing that despite the presence of resistance, buyers currently outnumber sellers in both depth and distribution.

PENGU’s order book shows dense buy walls between $0.03287 and $0.03296, signaling strong bullish demand. Source: Acomathor Dave via X

If this buy-side strength persists, the market could see gradual pressure building against the lighter sell walls, increasing the odds of a clean breakout from the triangle pattern. While the $0.03303 level remains the key hurdle for Pudgy Penguins to clear, the broader order book structure favors the bulls.

Pudgy Penguins Price Prediction: Elliott Wave Structure Signals Potential Breakout

Pudgy Penguins’ latest chart, shared by Bullish $Pengu Beckster, maps out an Elliott Wave formation that aligns neatly with the ongoing consolidation phase. The structure suggests that the market may be completing its fifth and final sub-wave within the current triangle.

The wave count also shows prior breakouts from similar compression zones, hinting that history could repeat if buying pressure remains consistent. Support near $0.0328 continues to hold, keeping the broader bullish outlook intact despite short-term sideways action.

Pudgy Penguins’ Elliott Wave count points to a potential final sub-wave breakout towards $0.41 and beyond. Source: Bullish $Pengu Beckster via X

If this wave count plays out, the next impulsive leg could push PENGU Pudgy Penguins price beyond immediate resistance at $0.03303 and set the stage for a retest of higher levels towards the $0.41 and beyond.

PENGU Price Movement Lags Behind Market Optimism

Analyst Jesse Halfon expressed surprise that PENGU’s price has not moved higher, especially given the steady flow of positive sentiment surrounding the asset. According to Halfon, there has not been a single bearish take on Pudgy Penguins, even from those outside the Pudgy or NFT space. This observation highlights a noticeable gap between strong market sentiment and the current pace of price performance.

The difference between sentiment and price action may be due to the market waiting for a clear technical breakout. As outlined in earlier analysis, PENGU price remains in a consolidation phase with key resistance levels still intact. While community support is strong, price movement is likely to remain limited until the chart confirms a decisive break above these critical levels.

Contrary Technical View

While earlier outlooks leaned toward a bullish breakout, chart analysis from Nebraskangooner highlights a completed head and shoulders pattern that has already broken its neckline around the $0.0330 level. This breakdown shifts near-term focus to the measured move target in the $0.0280 to $0.0290 range. The pattern is accompanied by a visible uptick in sell-side volume during the neckline breach, adding weight to the bearish implications.

PENGU’s head and shoulders breakdown targets $0.028–$0.029, with key support in the green zone. Source: Nebraskangooner via X

The green zone marked on the chart reflects the next major support area, sitting between $0.0275 and $0.0295, which aligns with the base of the last consolidation block before July’s breakout. A bounce from this zone could reset bullish momentum.

Final Thoughts: Bullish Scenario or Bearish Outlook?

Pudgy Penguins’ current setup is a classic case of a market caught between strong technical support and equally convincing bearish signals. On one hand, the symmetrical triangle, supportive order book, and Elliott Wave structure all lean toward an upside resolution. On the other hand, the completed head and shoulders pattern from Nebraskangooner warns that a deeper pullback to the $0.028 to $0.029 zone is possible before bulls can reclaim control.

Key bullish takeaways:

• Support near $0.0328 continues to hold firm.
• The order book shows dense buy walls absorbing dips.
• Elliott Wave count hints at a potential final leg higher toward $0.07.

The bearish case isn’t without weight either. The neckline breach on the head and shoulders pattern, coupled with increased sell volume, can’t be ignored. If bears push the price into the $0.0275 to $0.0295 support zone, it will be a critical test of buyer conviction.

Bearish watch-points:

• Neckline break around $0.0330 already confirmed.
• Measured move target sits in $0.028–$0.029 range.
• Sell-side volume spiked during the breakdown, signaling renewed pressure.