- PENGU trades around $0.0216, forming a descending triangle with key resistance at $0.0265.
- Derivatives data show stable open interest and balanced long-short positioning despite lower volume.
- Ecosystem growth through Web3 partnerships and integrations supports a potential 30% breakout to $0.027.
Pudgy Penguins (PENGU) continues expanding across the Web3 ecosystem while technical indicators show a potential upward breakout forming. The token trades near $0.0216, consolidating within a descending triangle pattern that could trigger a 30% rise to $0.027 if resistance is broken.
PENGU Consolidates Before a Possible Technical Breakout
According to analysis prepared by Ali Charts, PENGU’s one-hour chart shows a descending triangle structure with a sequence of lower highs and consistent horizontal support near $0.0201. The price has moved between $0.0201 and $0.0223, with slowing compression before a possible movement. Resistance is close to $0.0265, and the strong support is near to the value of $0.0201.
Market activity shows repeated rejections from the descending resistance line, yet liquidity and participation remain stable. The token’s market capitalization stands at $1.28 billion, while its fully diluted valuation is $1.62 billion. In the last 24 hours, the traded volume was $253.46 million indicating that the market is still active even though there is some slight weakness in the price.
CoinGecko data shows that the price ranged between $0.01961 and $0.02114. Strong pullbacks and small recoveries were characterized by short term action where there was a pattern of intraday trading and investor participation.
Derivatives Momentum and Expanding Ecosystem Presence
According to CoinGlass data, derivatives trading volume totaled $464.26 million, decreasing by 13.25% in 24 hours, while open interest increased by 1.89% to $110.53 million. The long-to-short ratio stands at 0.9589, showing balanced positioning between buyers and sellers. On Binance, top traders maintained stronger long exposure, with a ratio of 1.4166 by position.
The total liquidations during the previous 24 hours reached $2.59 million including $2.47 million in long positions which indicates continued leveraged activity. Although the trading volume has declined slightly, open interest growth and balanced positioning demonstrates confidence in the market.
Pudgy Penguins keeps growing its ecosystem by involving itself in collaborations, game integrations, and metaverse partnerships. The increase of the project promotes the stability of the token, and since PENGU is breaking above 0.0265, the technical forecasts show that the token can increase to 0.027, which is a 30% price upsurge objective.
