- PENGU price holds near $0.0095 while analysts monitor $0.0103 resistance.
- A confirmed breakout could open a move toward $0.0125 and beyond.
- Failure to hold $0.0090 could expose deeper support near $0.0085.
The PENGU price traded near $0.00950 after slipping 1.30% over 24 hours. The decline came as meme coins faced broader sector pressure. Still, analysts continue watching a potential bullish setup across several timeframes. Key resistance remains between $0.0103 and $0.0106.
PENGU Price Tests Bull Flag Near Crucial Breakout Level
Analyst Ali Charts said the PENGU price appears to be forming a bullish flag on the hourly timeframe. He identified $0.0103 as the key breakout level.
An hourly close above that level could confirm momentum toward $0.0125. However, another move toward the flag bottom could occur first.
Ali also compared the broader PENGU structure with PEPE before its 2023 parabolic rally. A decisive move above roughly $0.011 could confirm a macro double bottom.
Another analyst, MikybullCrypto, said PENGU had completed a successful monthly breakout. However, the token still needs confirmation above nearby resistance.
PENGU Price Holds Support as Bulls Watch Higher Targets
The PENGU price has tested the $0.0106 resistance zone three times. A break above it could open a 44.34% move toward $0.0153.
Narrowing Bollinger Bands also indicate declining volatility. Such compression can precede stronger directional price moves.
The Parabolic SAR has also flipped below the token price. That shift points to improving short-term momentum.
Still, immediate support remains near $0.00950. Losing that level could send the PENGU price toward $0.0090.
A deeper breakdown could expose $0.0085. Holding support would keep another test of $0.0103 to $0.0106 in play.
PENGU also gained 8.14% over the past week during Korea Blockchain Week activity. The ongoing LINE FRIENDS collaboration remains another near-term sentiment factor.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
