PENGU formed a clear retest near $0.015, and traders now expect upside movement to build in July
The ETF application for PENGU has triggered growing attention with higher volume and stronger price levels
A breakout to $0.060 is now on the radar for traders watching this support-to-resistance trend unfold
PENGU, the Solana-based memecoin, has flashed a bullish retest on the 12-hour chart, signaling a potential breakout to $0.060. A post by on-chain analyst @ali_charts on July 10, 2025, highlights the token’s sharp upside trajectory following a clear consolidation around $0.015.
Source: X
The analyst pointed to a “textbook bullish retest” seen in recent price action, suggesting the upward movement may accelerate if ETF approval follows. At press time, PENGU was trading at $0.015482, up 5.23% over the last session on Binance. The potential trajectory places the next major resistance near $0.060, possibly by early August.
The chart shows a recovery from a steep decline earlier in 2025, forming a strong bottom in May and consolidating through June and early July. The circled section in the chart displays the current retest zone, signaling that the retracement is likely complete and upward continuation may begin.
ETF Filing Sparks Renewed Attention for PENGU
Interest surged following news from SolanaFloor that the U.S. SEC has acknowledged a filing for a Canary Spot PENGU ETF. The announcement was shared on social media, drawing speculation about PENGU’s future market potential. Once confirmed, the ETF could legitimize the token’s role beyond memecoin status.
The ETF development is viewed as a pivotal step, given that similar products for Bitcoin and Ethereum previously preceded strong market inflows. Analysts are now monitoring how this ETF could affect trading activity, especially if formal approval is granted in the coming weeks.
Market observers believe that institutional entry could follow, enhancing credibility and attracting new demand. The $0.060 target may serve as a psychological and technical level, backed by trader sentiment and ETF optimism.
Traders Watch Key Levels Amid Technical Momentum
The price chart shared shows multiple resistance and support levels clearly defined. Following its bottom near $0.006 in April, PENGU surged toward $0.018, retraced briefly, and now appears to have formed a continuation setup. The shaded forecast area in grey points to a possible climb past $0.040 and into $0.060 within a month.
Volume data and market reaction support the bullish thesis, as sentiment remains tilted toward continuation. With the retest showing signs of strength, many traders interpret the current zone as a last accumulation range before a possible breakout.
According to @ali_charts, the bullish retest aligns with prior breakout patterns seen in crypto assets after forming strong base structures. A decisive move above $0.018 would likely invite further upside interest. The current price action continues to draw comparisons to breakout formations that preceded multi-week rallies in similar altcoins.
Is PENGU Ready to Enter the Next Phase of Growth?
With a textbook retest in play and $0.060 positioned as the next critical level, the question remains: Can PENGU sustain this rally?
The technical setup, combined with ETF anticipation, suggests the memecoin could be on the verge of broader attention. Traders are positioning early in case momentum accelerates quickly after an approval update. The bullish structure remains intact and has gained notable traction among chart watchers across major crypto platforms.
