Date: Sat, June 28, 2025 | 10:10 AM GMT
The cryptocurrency market is making a steady recovery as tensions between Israel and Iran ease. Ethereum (ETH) has rebounded sharply, jumping from its recent low of $2,113 to climb near the $2,425 level. Riding this renewed momentum, memecoins are also bouncing — including Pudgy Penguins (PENGU).
PENGU is currently showing impressive daily gains of over 21%, following a clean breakout from its falling wedge structure. Now, all eyes are on Artificial Superintelligence Alliance (FET), which appears to be on the verge of making a similar move.
Source: Coinmarketcap
FET Mirrors PENGU’s Breakout Setup
A side-by-side comparison on the 4-hour chart reveals a striking similarity between PENGU and $FET .
PENGU recently broke out of its falling wedge pattern, pushing above both the 100-day and 200-day moving averages. This move triggered a sharp 20% rally.
PENGU and FET Fractal Chart/Coinsprobe (Source: Tradingview)
Now, $FET appears to be following nearly the same path. It’s testing the upper resistance of its own falling wedge pattern while trading just below the 100-day MA. The current structure resembles the exact phase PENGU was in before its breakout—hinting that FET may be coiling for a similar move.
What’s Next for FET?
If FET follows through with the fractal and breaks out above the wedge resistance and the 100-day MA, it could target the 200-day MA as the next milestone. A successful breakout beyond that could propel the price toward $0.83, which stands as the next key resistance. From the current levels, this would represent a potential 25% upside.
However, a failure to hold the crucial $0.63 support level may invalidate the bullish setup, potentially leading to a downside retest and a delay in any near-term breakout.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.
