- TD Sequential “9” signal marks downtrend exhaustion, followed by higher lows and bullish candles, indicating renewed buying interest for PENGU.
- PENGU is consolidated between $0.020 and $0.025, with low volume but with signs of a potential breakout.
- PENGU has a strong social media presence with millions of followers and supports community engagement.
Pudgy Penguins (PENGU) is slowly regaining momentum after last week’s dip. Price is at $0.02251 with signs of a short-term bullish reversal building as buyers step back in to push volume to over $228M.
Technical Indicators Signal a Potential Trend Reversal
PENGU has shifted from consistent selling to buying interest. The TD Sequential indicator marked a “9” count on October 18, signaling a possible trend exhaustion in the downtrend. Higher lows and bullish candles started forming suggesting that momentum was returning.
A close at $0.02264 with a strong wick, shows continued buying pressure. However, the MACD shows weak bullish momentum with a nearly flat histogram, a sign that bulls have not regained full control.
Stochastic RSI is below overbought levels, and the RSI remains neutral,meaning that the price can either recover or dip further.However,Volume is key for confirmation.
Price Stabilizes Amid Consolidation
After a notable sell-off on October 11 PENGU has been consolidating between $0.020 and $0.025 . This sideways movement forms a base but lacks a clear breakout. Volume remains low, emphasizing market indecision.
The market appears to be in a holding pattern as participants await stronger signals before committing.Holding above $0.020 is crucial to avoid renewed bearish pressure.
Until PENGU breaks above $0.025 with solid volume, price action is likely to remain range-bound.The absence of aggressive selling is hinting at a consolidation phase.
Social Media Influence Reflects Strong Community Engagement
Pudgy Penguins’ social media presence remains robust. The official Instagram account leads at 1.9 million followers. Other accounts like @kindypengu maintain over a million followers on TikTok and YouTube, showing broad audience reach.Despite recent price fluctuations, this diverse digital engagement helps maintain interest .
The sustained social media activity and the market cap recovery seen since mid-October is reflecting cautious optimism among investors and a market in transition. Traders are watching key levels for the next direction.
