๐น Current Price: $0.015486
๐น Breakout Zone: $0.0161 (now acting as key resistance)
๐น Fibonacci Targets: $0.0187 โก๏ธ $0.0270 โก๏ธ $0.0359 โก๏ธ $0.0444
๐น Support Levels: $0.0121 and $0.0107
๐ธ What Just Happened?
PENGU recently broke out of a bullish ascending triangle, a pattern that began forming back in March from a low of $0.0038. The breakout above $0.0161 marked a significant technical move โ but the price has now slipped below that level, trading at $0.0154.
๐ง Why That Level Matters
The $0.0161 zone was the breakout line, and flipping it into support is crucial for continuation. Losing that level means the breakout is at risk of failing, and PENGU could revisit lower zones.
๐ Fibonacci Extension
A Fibonacci extension tool is used to predict future price levels after a breakout.
If PENGU reclaims momentum and closes above $0.0161 again, the next levels to watch are:
โ $0.0187
โ $0.0270
โ $0.0359
โ $0.0444 (the final extension level)
๐ป What If It Keeps Dropping?
If the price fails to reclaim $0.0161, expect pullbacks toward:
โก๏ธ $0.0121 โ recent support
โก๏ธ $0.0107 โ trendline touch and Fib retracement zone
Some traders are already warning that if todayโs candle closes below $0.0161, the chart might reset toward lower supports.
๐ฌ What Analysts & Traders Are Saying
Ali, a known chart analyst, shared the PENGU breakout chart on July 5 and said:
โResistance broke, and $PENGU could reach $0.044!โ
His post gained attention, but now the market watches closely to see if the price can reclaim $0.0161 and continue upward.
๐ What Should Traders Watch Now?
Bullish Scenario โ
Price closes above $0.0161 on daily chart
Volume returns with strong buying interest
Target zones open up toward $0.0187 and higher
Bearish Scenario โ
Price stays below $0.0161
Lower supports at $0.0121 or $0.0107 may be tested again
๐งญ Beginnerโs Summary (TL;DR):
PENGU had a strong breakout but is now slightly below the key level.
If it goes back above $0.0161, there's a chance it could rise toward $0.044 in stages.
But if it stays weak, expect a dip back to the $0.012 zone.
Watch the daily close โ itโs the deciding factor.