Pengu Anticipates Reaching $0.044 Following Successful Defense of Crucial Support Level
Pudgy Penguins (PENGU) are currently experiencing a surge in bullish momentum, with potential short-term upside of 30-40%. This uptick is driven by a combination of whale accumulation, particularly from Korean exchange wallets, and positive technical indicators suggesting an imminent breakout zone.
Over the past 24 hours, PENGU has seen a 4% increase, and the 24-hour trading volume exceeds $635 million. The Supertrend indicator (10,3) is currently red at $0.03838 on the 4-hour chart, acting as short-term resistance. A close above this level would signal a stronger recovery for PENGU.
Recently, PENGU has managed to push above horizontal resistance around $0.036-$0.037 with rising volume, indicating a potential shift in market dynamics. If PENGU maintains this momentum and holds above $0.036, the next target could be near $0.044, representing a 20% increase from the current trading price.
Short-term price predictions vary but generally highlight potential for appreciable gains within 2025. For example, CryptoRank projects PENGU could reach above $0.45 by 2025, with bullish price targets in the range of $0.25 to $1. Other analyses, like DigitalCoinPrice, forecast a more conservative maximum near $0.0893 (+125%) in 2025, with minimum estimates around $0.0365.
Technical factors supporting this bullish momentum include whale accumulation from major wallets, approaching key breakout technical zones, and a positive Relative Strength Index (RSI) around 60.8, indicating bullish but not overbought conditions. Additionally, sustained community and cultural presence reinforces demand for PENGU.
However, it's important to note that for the week, PENGU is down 17%. On the 12-hour chart, a key support zone for PENGU is at $0.0315. If this level fails to hold, the next potential support area could be near $0.0275. This level is considered essential for buyers according to crypto analyst Ali Martinez.
In summary, the short-term outlook for PENGU is optimistic, with potential price rallies between 30-40% fueled by institutional buying and technical setups. Price targets vary widely across forecasts, but most agree on upward potential beyond current levels within 2025. As long as PENGU holds above $0.036, short-term conditions remain favorable, with the breakout pointing to an upside move toward $0.046, which is about 26% above the breakout area.
- As part of the current surge in bullish momentum, Ethereum-based token Pudgy Penguins (PENGU) is seeing increased trading activity, driven by whale accumulation from Korean exchange wallets and positive technical indicators.
- Within the realm of finance, potential investors may find interest in PENGU as short-term price predictions point to significant gains, with some analysts projecting a potential increase of up to 125% by 2025.
- The development of blockchain technology, with its growing acceptance and use in the trading sector, could further boost the value of crypto assets like Pudgy Penguins (PENGU).
