Pudgy Penguins (PENGU) token is showing signs of a potential price surge, with an interesting chart analysis from Ali suggesting a breakout might be imminent. The chart reveals a symmetrical triangle formation, indicating a period of consolidation before a decisive move occurs. 💎🚀
Ali’s analysis suggests that PENGU could regain momentum once it breaks above the $0.026 resistance level. This level has acted as a barrier several times, and breaking through could open the door to a substantial price rise towards the $0.035 area. His chart illustrates this potential movement with dotted projections.
The chart shows PENGU consolidating between two converging trendlines, forming a symmetrical triangle pattern. Price is moving within tighter swings, creating a signal that often precedes a decisive move. Each rally attempt has been capped near resistance, while buyers have continued to defend higher lows. 📈
Ali’s projections suggest that once the upper boundary breaks, the token could enter a recovery phase. The dotted lines on the chart show two possible paths: one with a short pause before lifting higher, another with a direct breakout above resistance.
The current price level of PENGU is around $0.024, right within the final stretch of the pattern. This tight action means that any breakout or rejection will likely happen soon, and the size of the move could reflect how long the price has been coiling. ⏳
To gain further insight into this situation, we can look at what’s happening beneath the surface. Investing.com provides insights into the token’s technical indicators:
**Trading Indicators:**
* **RSI(14):** Shows weak momentum but room for recovery at 39.079.
* **STOCH(9,6):** Suggests short-term buying pressure at 64.892.
* **MACD(12,26):** Remains bearish with a value of -0.002, indicating the current trend is not yet bullish. MACD may flip if the price sustains a move above resistance.
* **ATR(14):** Implies high volatility at 0.0047, implying that once a direction is chosen, there could be significant follow-through.
Looking Ahead:
The chart structure and indicators suggest a market poised for action: A confirmed close above $0.026 could unlock new buying energy, potentially driving PENGU towards the $0.035 area as Ali’s projections outline. Failure to break through might keep price trapped in the pattern for a while longer.
In summary,
the market is poised for a decisive move. The setup around PENGU suggests an impending surge before a breakout, creating a unique opportunity for traders to capitalize on the upcoming momentum. 📈🚀
Subscribe to our YouTube channel for daily crypto updates, market insights and expert analysis.