$PENGU /USDT
The essentials of the moment:
Current price: around $0.0319, with a drop of ~6.4% in 24h and ~21% in the last month. Daily volume exceeds $380–400 million, and the market capitalization is around $2 billion.
Clear and emerging bullish technical pattern: A falling wedge is forming on the 4-hour chart, with positive divergence in the MFI, bullish MACD, and increasing volume. This suggests a possible breakout that could surpass resistance at $0.034–$0.036. First technical target: $0.040.
Accumulation zone and firm support: PENGU is moving within a range of $0.026–$0.042, consolidating near $0.0328, with critical support at $0.028. This could serve as a base for future upward movement if demand holds.
Clearly bullish monthly technical trend: Monthly analysis indicates 6 buy signals, 1 neutral, and zero sell signals; 100% bullish moving averages.
Technical Scenarios
Scenario Key Condition Potential Targets
Bullish Sustained close above $0.034–$0.036 Short: $0.040 → Medium: $0.045–$0.050
Neutral / Base Consolidation between $0.028–$0.032 Solid technical accumulation zone
Bearish Drop below $0.028 Correction risk towards $0.025 or lower
Express Recommendation
Buy if PENGU consolidates above $0.034, projecting towards $0.040 and beyond.
Wait if it retraces to $0.028–$0.030, evaluating technical support before re-entering.
Lightning Summary
Current price at ~$0.0319, with strong volume and visible technical consolidation in the falling wedge.
If it surpasses $0.034–$0.036, the path towards $0.040–$0.050 opens up.
Key support close to $0.028; loss of this level could invalidate the bullish setup.
The monthly technical scenario continues to show bullish strength, following the major token launch and its increasing ties with the ecosystem's NFTs.
