PENGU trades in a symmetrical triangle, with resistance at $0.039 and target up to $0.074066.
ETF filing backed by CBOE under SEC review boosts volume, price, and open interest sharply.
Asian market expansion through listings, partnerships, and fintech integration strengthens PENGU’s global reach.
Pudgy Penguins’ native cryptocurrency PENGU is showing technical and fundamental conditions that could precede a large market move. The token is trading at $0.03633, consolidating after a strong rise earlier in the cycle. Analysts point to a combination of a bullish chart setup, regulatory developments, and expanding market reach in Asia.
PENGU Price Chart Analysis and Key Technical Levels
Chart analysis from Ali Martinez shows that PENGU is trading within a symmetrical triangle pattern on the daily chart. The structure formed after a rapid price surge in June, with converging trendlines suggesting reduced volatility before a possible breakout.
https://twitter.com/ali_charts/status/1955597954737205560
Key resistance levels are at $0.039, $0.045821, and $0.055448, with an extended target at $0.074066. Gemxbt observed that the market showed a double bottom pattern near August 12, with support at $0.036 and resistance at $0.039.
Indicators such as MACD and moving averages are pointing toward bullish momentum. Suggested entry levels are around $0.0375, with stop-loss at $0.036 and take profits at $0.039, $0.0405, and $0.042.
ETF Filing, SEC Review, and Asian Expansion
A pending ETF filing backed by the Chicago Board Options Exchange is in process, according to market reports. The proposed fund would allocate 80–95% to PENGU and 5–15% to Pudgy Penguins NFTs. The filing is currently under review by the U.S. Securities and Exchange Commission.
Trading activity rose after the SEC acknowledged the filing, with price climbing 30% in a day and volume surpassing $1 billion in 24 hours. Open interest also increased by 52% to $278 million. The project is also increasing its presence in Asia. Major exchange listings on Upbit and Bithumb have improved accessibility, while partnerships with Suplay Inc. are adding branded merchandise.
Integration with regional fintech platforms and participation in NFT and gaming sectors are further expanding its market reach. Analysts note that the combination of a tightening technical pattern, ongoing regulatory review, and growing international adoption is creating conditions for a potential breakout in PENGU.
The post PENGU Approaches Key $0.039 Level as Analysts Track Triangle Breakout Setup appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
