Pudgy Penguins (PENGU) price is showing mixed signals as its broader bearish trend remains in focus, while a recent trendline breakout has raised hopes of recovery. Analysts are divided over the token’s next direction, with some pointing to continued downside risk and others seeing signs that buyers may be preparing for a stronger rebound.
At the time of writing, according to CoinMarketCap data, PENGU is trading at the price of $0.006709, with an increase of 6.63% in the past 24 hours and a rise of 11.8% over the past week.
Pudgy Penguins Price Eyes $0.00307 as Bearish Structure Remains Intact
According to the crypto analyst Crypto Patel, PENGU remains under pressure as its higher-timeframe chart continues to show a bearish structure. The token formed a major double top near $0.047 before falling nearly 89%. Since then, the PENGU price has stayed below a descending trendline, with recovery attempts repeatedly facing selling pressure around key supply areas.
PENGU is now consolidating near the $0.0055–$0.0058 support zone, making this area important for its next direction. From an ICT and Smart Money Concepts perspective, buyers have yet to produce a clear bullish change of character. The PENGU price also remains below the higher-timeframe bearish order block.
The bearish pattern could repeat if support fails, following the sequence of sell-off, relief rally, rejection, consolidation, and another lower low. The $0.0085–$0.0097 range remains a key resistance zone, while losing support could send PENGU toward $0.00307.
However, a strong close above $0.0097 would challenge the current bearish structure and signal that sellers are losing control.
PENGU Breakout Signals Potential Shift in Momentum
However, another crypto analyst, Aurion X, mentioned that Pudgy Penguins is showing momentum after breaking above a descending trendline on the daily chart. The breakout follows weeks of consolidation, raising the possibility that buyers are gaining control and setting the token up for potential recovery if the move holds.
The analyst expects confirmation above the trendline to strengthen the bullish setup. If PENGU maintains the breakout, the price could target the $0.0066–$0.0068 area next. Before that, traders may watch for a retest of the trendline, as holding it could provide further confirmation.
Meanwhile, the $0.0056–$0.0057 zone remains a support area for PENGU. Rising trading volume and momentum could add strength to the breakout, while a failure to hold the trendline may weaken the setup. Traders are watching now whether buyers can defend the move.
