TL;DR

PENGU shows bullish momentum after holding $0.0315, with charts signaling a potential rally toward $0.044. Supertrend resistance near $0.03838 and RSI 53 suggest room for continued upward movement if volume supports. Broadening wedge breakout and $0.036 support flip point to a favorable short-term bullish setup.

Key Support and Buy Signal

Pudgy Penguins (PENGU) is showing signs of a potential bounce after touching a key support zone. On the 12-hour chart, the price reached $0.0315, a level that has seen strong trading activity in the past. Crypto analyst Ali Martinez noted that this area is an essential base for buyers.

$PENGU has hit a key support level at $0.0315, backed by strong volume profile demand. With the TD Sequential flashing a buy signal, a sustained move above $0.036 could ignite a rebound toward $0.044! pic.twitter.com/MPyodQzrGd

Meanwhile, the TD Sequential indicator triggered a “Buy 9” signal. This pattern often appears near the end of a downward phase. The first level traders are watching is $0.036. 

If the asset moves above it and holds, the next target sits near $0.044. If $0.0315 fails to hold, the next support area could appear near $0.0275.

Price and Market Behavior

PENGU trades at $0.036 with a 24-hour volume of over $635 million. The token is up 4% over the past 24 hours but remains down 17% for the week. This shows that while the short-term trend is turning up, the broader pullback has not fully reversed.

On the 4-hour chart, the Supertrend indicator (10,3) is red at $0.03838. This level acts as short-term resistance. A close above it would signal that the market is ready for a stronger recovery. The Relative Strength Index (RSI) sits near 53, which indicates improving buying pressure while still leaving room before overbought levels.

Source: TradingView

Breakout Pattern and Short-Term Setup

A 4-hour chart shared by CryptoBull_360 shows a broadening wedge pattern. The asset recently pushed above horizontal resistance around $0.036–$0.037 with rising volume. This breakout points to an upside move toward $0.046, which is about 26% above the breakout area.

The former resistance zone has now turned into support. As long as PENGU holds above $0.036, short-term conditions remain favorable. Continued strength in Ethereum could also help maintain momentum for this token.

Analyst Views

Ali’s analysis points to a possible upward move if the $0.036 level holds. CryptoBull_360 expects short-term bullish action supported by volume growth. Analyst K A L E O shared a long-term projection of $4.2069, though this remains speculative.