- $PENGU reclaimed its bullish flag support after a brief sell-off, demonstrating buyer strength and maintaining structure for potential upward movement.
- The cryptocurrency shows higher lows along the flag’s base, indicating accumulation pressure and ongoing buying interest beneath key resistance levels.
- A sustained hold above the flag’s support zone keeps $PENGU’s path toward $0.032 intact, highlighting market confidence in the bullish setup.
$PENGU is currently at an important moment as it pursues the $0.032 target while still in a bullish flag pattern. Recent period of volatility briefly tested support but has recovered to reclaim key levels. Traders will be closely monitoring whether the bullish setup can endure selling pressure.
$PENGU Holds Support Amid Market Fluctuations
$PENGU recently dipped below the lower boundary of its bullish flag but quickly regained support. This rebound demonstrates active buying and a defense of the technical structure.
CryptoPulse noted on X, “Despite the intense sell-off that briefly pierced below the pattern, $PENGU has impressively reclaimed the lower boundary of its bullish flag.” The comment underlines ongoing buyer interest.
The flag’s base shows higher lows, indicating accumulation beneath resistance. Buyers are gradually reasserting control, maintaining the integrity of the bullish setup.
Volume has remained steady, suggesting that sellers may be losing momentum. The market shows that buying activity is balancing out selling pressure.
Maintaining price above the flag’s support zone is essential. A firm hold in this area would preserve the bullish outlook and keep the path toward $0.032 intact.
Path Toward $0.032 and Potential Risks
Technical projections place $0.032 as the next target for $PENGU if support holds above the lower flag boundary. This aligns with prior resistance points, marking a clear objective for traders.
CryptoPulse emphasized, “A break and consolidation below the flag would invalidate the bullish case and open room for a deeper drop toward $0.017.” Failure to maintain support could shift sentiment sharply bearish.
Pudgy Penguins was trading at $0.02469 and had a 24hr trading volume of $367,491,004 when writing. Market players closely watch support and resistance levels for possible moves.
The bullish flag pattern remains intact, but its structure is sensitive. Buyers must defend current levels to maintain momentum, while any decisive break below support could trigger a deeper decline.
As long as $PENGU is held above the critical support level, the run to $0.032 is still possible. The balance between buying pressure and selling interest will determine if the trend of the bulls continues through prolonged market volatility.
