- Analyst identified $0.0106 as key PENGU resistance, with a confirmed breakout potentially opening the path toward $0.0153.
- PENGU remains above its 200-day moving average at $0.00856 despite trading below its 50-day average near $0.00964.
- Crypto Tony said Bitcoin’s indecision is slowing altcoins, leaving PENGU without a confirmed entry above its recent high.
PENGU is holding above its 200-day moving average after a sharp recovery, while analysts Crypto Tony and Ali Charts watch resistance. Crypto Tony said Bitcoin’s indecision is slowing altcoins, while Ali Charts identified $0.0106 as a key level. A break above that level could open $0.0153, according to Ali Charts.
PENGU Holds Above Long-Term Support
PENGU traded near $0.009256, below its 50-day moving average at $0.009642. However, the token remains above its 200-day moving average at $0.008558. This leaves the longer-term support level below the current price.
PENGU previously fell toward 0.0065-0.0070 during July and August. It then broke higher in late August and again during mid-September. Notably, the strongest move came between Sept. 18 and Sept. 22.
During that move, PENGU climbed from below $0.008 to above $0.010. Large volume spikes accompanied the breakout. The token later reached about 0.0108-0.0110 before pulling back.
Analysts Focus On $0.0106 Resistance
Crypto Tony said PENGU remains an entry if it flips the recent high. However, he said Bitcoin’s indecision is stalling many altcoins and that PENGU has not reached that entry condition.
Meanwhile, Ali Charts said PENGU has tested the top of its channel at $0.0106 three times. He said repeated resistance tests can weaken that level. Ali expects a move above $0.0106 could open the path toward $0.0153.
Ali also pointed to activity around Pudgy Penguins during Korea Blockchain Week. He said fresh catalysts could support another breakout attempt.
Key Levels Shape The Next Move
The chart places $0.0100 below the recent high and 0.0108-0.0110 near the latest peak. On the downside, 0.0090-0.0092 forms immediate support, while $0.00855 is near the 200-day average.
A move above $0.00964 would reclaim the 50-day average. That could put $0.0100 back into focus, followed by 0.0108-0.0110. However, losing $0.0090 could expose $0.00856.
Volume remains higher than during July and August, with the latest reading near 123.01 million PENGU. However, the largest spikes appeared during the earlier breakouts.
