Pudgy Penuins PENGU is back in the spotlight after rallying more than 15% earlier today to $0.03445, but has since dropped and now trades for $0.03162. This surge is thanks to over 46% rise in its trading activity, which saw about $2.12 billion in volume over the last 24 hours
The price action is picking up momentum on crypto Twitter, with retail traders and technical analysts pointing out a breakout in the making.
In a tweet, analyst BSCGemsAlert posted, “$PENGU looks BULLISH AF today”, and that kind of hype tends to show up right when PENGU’s price is pressing against key resistance. And that’s exactly what’s happening here.
The chart shows a textbook ascending triangle pattern, where price keeps hitting the same ceiling but the lows keep creeping higher. That usually means buyers are gaining strength and sellers are starting to give way.
PENGU Triangle Setup Looks Ready to Break
On the 1-hour chart using Heikin Ashi candles, you can see how this triangle has been building since July 13. PENGU made a strong move from around $0.026 to just above $0.030. Since then, the PENGU price has been coiling under the $0.0302 resistance, while higher lows keep pushing up from underneath.
This is exactly the kind of setup traders watch for. If PENGU breaks above that $0.0302 mark with decent volume, the next move could stretch toward $0.033 or even $0.0345.
But if the breakout fails and PENGU price slips under the trendline, it could fall back toward $0.0275 instead.
PENGU Price Support Below, Resistance Above
The support level is holding up for now. There’s short-term support between $0.0285 and $0.0290, and deeper support near $0.026 if things turn.
On the flip side, PENGU price is still facing resistance around $0.0302, and that’s the level everyone’s watching.
The structure looks clean, volume is picking up, and social sentiment is leaning bullish. It all comes down to whether the triangle breaks out.
If it does, the upside targets are clear. If not, traders may want to wait for a better entry lower. Either way, PENGU’s chart is heating up.
