- PENGU formed a bullish pennant pattern after surging over 100%, setting up for a potential continuation of the current uptrend.
- The current price action near $0.031 is tightening at the apex, indicating an imminent breakout toward the $0.075 level.
- Reduced volatility and coiling momentum suggest bullish pressure is building, with volume confirmation expected to spark a major rally.
Penguiana ($PENGU) appears poised for another explosive rally as bullish technical patterns align on the 1-hour chart. Momentum is building for a potential surge toward the $0.075 mark, with price action coiling tightly near key resistance.
$PENGU Targets $0.075 in Next Bullish Leg
Crypto analyst Ali shared a strong bullish outlook for $PENGU, stating that the token is ready for another leg up toward $0.075. The chart reflects this sentiment, as a textbook bullish pennant has formed following a sharp rally from $0.015 to over $0.033.
Currently, $PENGU is consolidating near $0.031, sitting tightly at the apex of the pennant. This structure usually precedes a breakout, and the reduced volatility suggests that pressure is building. The projected target from this formation, if the breakout matches the previous rally, points directly to the $0.075 region—offering over 100% upside potential.
The convergence of trendlines around the current price shows strong compression, increasing the likelihood of a sharp move. A breakout confirmed with volume could ignite fresh bullish momentum. However, a quick retest near the lower support zone at $0.029 should not be ruled out before liftoff.
Market Strength Confirms Technical Setups
PENGU has already posted a 3.72% gain in the last 24 hours and is up 15.20% over the past week. These metrics signal increasing interest despite its low market cap and modest trading volume of $59.61.
Such price strength, even in sideways movement, reinforces the bullish setup. Traders are closely watching this pattern, anticipating the next move. If momentum aligns with the pattern’s breakout potential, the $0.075 target could be reached rapidly.
In summary, $PENGU is displaying all the characteristics of a bullish continuation. With strong technicals, increasing momentum, and solid community backing, the path to $0.075 looks more realistic by the hour.
