Pudgy Penguins (PENGU) Shows Bullish Signals Amid Market Recovery
Pudgy Penguins (PENGU) is exhibiting signs of a potential bullish reversal as technical and on-chain metrics align. The TD Sequential buy signal has been validated, coinciding with significant exchange outflows ($863K) and renewed whale accumulation. These factors suggest a shift in momentum favoring buyers.
The weekly chart reveals a near-complete cup-and-handle formation, with a breakout above the $0.0218 Fibonacci level likely to trigger upward momentum. Key targets include $0.0305 (1.618 Fib) and $0.0447 (2.618 Fib). Liquidation clusters between $0.023-$0.0238 could accelerate gains through a short squeeze.
Market structure now reflects growing confidence, with reduced sell pressure and institutional interest driving the narrative. The project's recovery trajectory mirrors broader crypto market trends, where select altcoins are regaining footing after prolonged corrections.
