- PENGU forms a bullish pennant, signaling potential for a 20–30% short-term rally.
- Price holds above $0.030 with strong volume, supporting breakout potential toward $0.045.
- Consolidation within $0.032–$0.038 range shows market strength and rising breakout confidence.
PENGU is forming a pennant pattern on lower timeframes, with strong momentum and steady trading volume supporting the setup. The price continues consolidating within a symmetrical triangle after a sharp upward move, indicating potential for a bullish continuation. A strong flip off the resistance zone may trigger a 20-30% short-term rally.
Bullish Pennant Formation Supported by Volume and Market Structure
According to analysis prepared by CryptoBull_360, PENGU’s price action has established a symmetrical triangle on lower timeframes. The price flipped a key resistance into support, creating a foundation for renewed upward movement. A breakout above the pennant’s upper boundary could lead to a 20-30% short-term rally.
Coingecko data shows PENGU trading at $0.03085, reflecting a 1.3% gain in the last 24 hours. The 24-hour trading volume reached $505.1 million, indicating healthy market participation. The price has consistently held above $0.030, forming higher intraday highs. The volume remains robust, supporting the possibility of further price gains.
ItsCryptoBruh noted that PENGU’s price structure remains intact as buyers continue stepping in during dips. The asset is demonstrating resilience, particularly as the broader market remains cautious. This pattern of accumulation adds to the possibilities of a breakout of the current consolidation.
Market Confidence Builds as Price Eyes Breakout Range
Fuel observed that PENGU is consolidating within a box range between $0.032 and $0.038. This range-bound movement after an earlier rally suggests a healthy consolidation rather than market weakness.
Fuel indicated that breaking above this upper boundary, backed by strong volume, could open targets between $0.043 and $0.045. Crow stated that PENGU is getting ready for the next push upwards and confirmed that the next stop is ATH.
Support levels near $0.0305 and $0.028 remain firm. Sustained buying activity and structural integrity suggest that PENGU is positioning for a breakout, potentially setting new highs in the coming sessions.
