Pudgy Penguins (PENGU) Price Prediction: Will PENGU Break Resistance and Rally to $0.006300?

Currently, Pudgy Penguins (PENGU) is trading at $0.005765, following a 5.31% increase in the last 24 hours. However, over the past 30 days, the token has seen a significant decline of 45.06%.

The price of Pudgy Penguins (PENGU) has risen by 5.31% in the past 24 hours, reaching $0.005765 at the time of writing. However, despite this short-term uptick, the token has experienced a significant decline of 45.06% over the past 30 days.

This follows a period of heavy selling that saw the price of PENGU drop from highs of around $0.010500 to lows of $0.005500. However, buyers stepped in to support the price at the crucial Fibonacci support level of $0.005500, setting the stage for a potential rebound.

Moreover, bullish candlestick formations, such as bullish engulfing patterns and hammers, have been observed on the chart near key support levels. These formations suggest that buyers are beginning to intervene during short-term dips.

If confirmed by higher trading volume, these formations could set the stage for a reversal of the bearish trend that has been affecting the token in recent times.

A decisive breakout above the primary resistance zone of $0.005900–$0.006100 would serve as a strong bullish signal, indicating that buying pressure is beginning to outpace selling pressure.

Conversely, if the price fails to break resistance and instead retraces, it could indicate that bearish sentiment will continue to drive the token lower.

If sellers can maintain control and break through the primary support, it could open the door for further declines toward the next support range of $0.005000–$0.004800.

If buyers continue to support the price around the $0.005500–$0.005700 range and if trading volume increases during a potential rebound, then PUDGY could break through the primary resistance of $0.005900–$0.006100.

In this scenario, the token may rally to a target range of approximately $0.006100 to $0.006300 by the end of the trading day. This breakout would signal that bullish momentum is starting to overcome the prevailing bearish sentiment, potentially attracting further investor interest.

Conversely, if selling pressure continues and PUDGY fails to hold its support levels, then the price could continue to decline. A sustained break below $0.005500 might drive the token’s price down to around $0.005000 or even lower, reinforcing the ongoing bearish trend.