- $PENGU showing around the $0.0300 area after rebounding off the channel bottom.
- Stochastic RSI signals a crossover from oversold levels, pointing to more upward momentum.
- Main hurdles lie near $0.0345, a breakout here could push PENGU toward the $0.042–$0.0435 zone.
Pudgy Penguins ($PENGU) is heating up, reclaiming key levels with strong volume and bullish momentum. Trading at $0.03265, it’s up 4.47% in 24 hours and soaring over 20% this week.
Technical Setup Suggests Reversal in Motion
According to a 12-hour chart analysis shared by Ali Martinez, PENGU is bouncing off the lower trendline of its ascending channel. The current price hovers around $0.03271 — just a tick under the 9-period EMA ($0.03272). This level is acting as a pivot, with short-term direction hinting on whether bulls can push through convincingly.
Support around $0.0270, tested during the late September dip, held firm. Since then, PENGU has consistently printed higher highs and higher lows — a textbook bullish structure. Immediate resistance at $0.0345, capped previous attempted rallies in mid-September. This means that If price manages to hold above $0.0310, the bullish structure remains intact.However a breakdown below that would invalidate the upward momentum.
Momentum Indicators Turning Bullish
The chart shows a developing bullish crossover in the Stochastic RSI. Current values are K = 25.02, D = 14.88 — both in the oversold zone. Historically, such crossovers have triggered short-term price jumps.
Volume also supports the move. After surging during early October’s breakout, trading activity remains elevated compared to late September’s lull. While the last few candles show tapering volume, this may indicate healthy consolidation rather than weakness.
A strong green candle backed by rising volume could serve as a confirmation signal for a push toward the $0.0335–$0.0340 zone.
Market Sentiment and Price Outlook
PENGU’s ability to rebound from $0.0270 and form a base signals growing investor confidence. The token is riding a wave of technical momentum that aligns with historical breakout setups, as noted by analysts monitoring the PENGU/USDT perpetual pair on Binance.
If bulls maintain control and volume reaccelerates, a breakout above $0.0345 could open the path toward $0.0435 — a potential 30% climb from current levels. Analysts continue to watch volume, EMA recovery, and resistance reactions for signs of validation.
With momentum building and the NFT-backed token sector regaining traction, Pudgy Penguins could be one to watch closely through October.
