PENGU faces a decisive moment after weeks of volatility, hovering above key support as participants anticipate a potential rebound.
Pudgy Penguins is once again in the spotlight after a month packed with wild price swings. PENGU has been tossed between highs and lows, mirroring the overall turbulence in the meme sector.
Massive 30-Day Range Highlights Volatility
Pudgy Penguins PENGU has seen extreme volatility this month, swinging nearly 40% within its 30-day price range. Price now sits near $0.0224, just above the lower boundary at $0.0150, a region that has repeatedly served as a springboard for reversals.
PENGU trades near its 30-day range low, holding key support around $0.022 as volatility begins to ease. Source: Jesse Peralta via X
Despite the steep drawdown, the structure remains intact as long as this zone holds. Such deep retracements often clear leveraged positions before recovery, and momentum indicators are beginning to show early stabilization. If the market holds above $0.022, buyers could attempt a reclaim towards the mid-range near $0.030.
PENGU Important Price Levels
Kingpin Crypto pointed out that PENGU is sitting right on a key support level after yesterday’s major flush. The $0.022 to $0.023 area aligns perfectly with both horizontal demand and the 0.5 Fibonacci retracement from its previous impulse.
PENGU is defending the $0.022–$0.023 support zone. Source: Kingpin Crypto via X
This confluence increases the probability of a short-term rebound, especially as volume spikes hint at buyers defending this range. A bounce towards $0.030 to $0.034 remains on the cards if market sentiment continues to normalize.
Liquidity Heatmap Shows Upside Potential
PENGU’s most of the aggressive liquidations have now cleared, resetting open interest and providing clean conditions for a potential trend reversal. Acomathor liquidity heatmap shows limited downside clusters remaining, a setup that often precedes a short squeeze.
Pudgy Penguins liquidation clusters have thinned out, hinting at a possible short squeeze if price reclaims the $0.025 zone. Source: Acomathor via X
With PENGU’s selling pressure drying up and volatility subsiding, the next test for bulls is reclaiming $0.025. Doing so could ignite a push towards $0.035 or higher. The market appears to be resetting for upside momentum, and PENGU’s sharp recovery potential makes it one to keep on watch as conditions stabilize.
Cup-and-Handle Formation Near Support
Famous PENGU analyst Richie highlighted that PENGU is currently resting near its daily support at $0.022, right at the 0.5 Fib level of its latest swing. The structure is forming a potential cup-and-handle pattern, suggesting a technical base could be in place for continuation.
PENGU forms a potential cup-and-handle near $0.022 support, with a breakout above $0.030 eyeing targets around $0.045. Source: Richie via X
When the market turns, assets with strong accumulation zones like this tend to bounce hardest, and Pudgy Penguins’ price behavior reflects that. A confirmed breakout above $0.030 would validate the pattern, potentially setting the stage for a move towards $0.045 in the next wave.
Outlook: Accumulation Builds the Base for Recovery
The recent shakeout has cleared weak hands and reset leverage, leaving PENGU in a cleaner technical position. With strong defense at $0.022 and rising interest across key support zones, the setup now leans towards gradual recovery.
At press time, PENGU was trading around $0.0644, up 24.22% in the last 24 hours. Source: Brave New Coin
If momentum continues to rebuild above $0.025, Pudgy Penguins could re-enter a higher trading range and retest the $0.030 to $0.045 zone. Structure, sentiment, and volume behavior together point to a maturing bottom, one that could define PENGU’s next major leg higher once market confidence returns.
Source: https://bravenewcoin.com/insights/pudgy-penguins-pengu-price-prediction-pengu-eyes-recovery-as-0-022-support-and-0-035-resistance-define-the-range
