PENGU ANALYSIS UPDATE 🔥🔥
Today the PENGU token has surpassed the threshold of $0.034 again, confirming the strength of the recent rally after a consolidation phase. From a low of about $0.008$ in April, PENGU has achieved an increase of over 300%, supported by rising demand in the Pudgy Penguins ecosystem, with growing interest in NFTs and developments related to the metaverse.
Technically, PENGU shows somewhat mixed signals:
Main support: $0.030–$0.033. A break below these levels risks accelerating towards $0.022.
Key resistances: $0.038$ and $0.045–$0.048. A breakout above these thresholds could trigger new rises up to $0.057–$0.075.
Current setup: The token is moving in a consolidation phase between $0.033$ and $0.038. PENGU shows increasing volumes and an RSI indicator in the overbought area near 83, indicating sustained bullish pressure but to be monitored for potential short-term corrections. The chart pattern suggests the formation of a bullish flag, a technical pause before a possible new push towards resistance areas at $0.045–$0.05$ in the short term.
Fundamentally, confidence stems from a more favorable macroeconomic context for speculative assets, thanks to expansive monetary policies and easing between the USA and China, combined with renewed enthusiasm in the meme and NFT space. Recent token movements from exchanges and whale activity indicate some selling pressure to be monitored.
In summary, PENGU shows signs of technical strength with potential upside towards new targets above $0.035–$0.04, but caution is advised at key support levels of $0.031 and $0.037$ to maintain the structure of the bullish trend. ALWAYS operate with caution, with adequate stop losses and not too high leverage.
