PENGU reclaims $0.036 resistance backed by volume, with $0.03838 Supertrend acting as resistance.
Whale inflows of $3.76M boost confidence as PENGU leads large-cap meme token accumulation.
TD Sequential “Buy 9” signal and RSI near 53 indicate potential short-term recovery underway.
Pudgy Penguins (PENGU) has reached a key support level at $0.0315, a zone backed by strong volume activity. The TD Sequential indicator has triggered a “Buy 9” signal, often seen near the end of a downward phase. At the time of writing, PENGU was trading at $0.03531, showing signs of price stabilization.
Technical Setup Points to Short-Term Recovery if $0.036 Is Reclaimed
Ali Martinez noted that PENGU’s rebound from $0.0315 could mark the beginning of a short-term recovery. The support level has previously attracted high trading volume, indicating sustained buyer interest. This structure is reinforced by the TD Sequential buy signal, which often precedes trend reversals.
https://twitter.com/ali_charts/status/1951974872629883050
The token has recently moved above a horizontal resistance range around $0.036–$0.037, as noted by CryptoBull_360. Volume increased during this move, which strengthens the case for a continued breakout. If PENGU closes above $0.036 and holds that level, the next target sits near $0.044. A break below $0.0315, however, could shift focus toward $0.0275.
The 4-hour chart shows that the Supertrend indicator remains red at $0.03838, acting as immediate resistance. The Relative Strength Index (RSI) is near 53, indicating improving momentum while avoiding overbought territory.
Whale Inflows and Market Support Build Case for Upside Continuation
PENGU has recorded over $3.76 million in whale inflows in the past 24 hours, according to data shared by CryptoCurb. This placed it at the top of large-cap meme token inflows, suggesting growing institutional interest.
Such accumulation often aligns with critical technical levels, adding further strength to the rebound scenario. According to an observation by Bluntz, “solid PENGU breakout here and push into the weekly close” reflects continued leadership in the meme coin segment.
The recent rebound also coincided with rising interest in its associated NFT floor price and the newly announced Canary PENGU ETF. These developments, combined with structural support, suggest short-term conditions remain constructive.
The post PENGU Reclaims Resistance Zone at $0.036, but the Supertrend at $0.03838 Remains the Key Hurdle appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
