Pudgy Penguins (PENGU) Breaks Out, Will It Bounce Back?

The cryptocurrency market is showing signs of cooling down after a recent surge. Bitcoin and Ethereum are currently in the red, influencing other altcoins like Pudgy Penguins (PENGU). While PENGU has dipped nearly 8% today, technical indicators suggest this might not be a bearish trend altogether. Instead, the token appears to be retesting a crucial breakout zone, setting the stage for a possible rebound or continued downward movement.