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Pudgy Penguins (PENGU) Tests Critical Support at $0.0162 Amid Bearish Channel

Pudgy Penguins (PENGU) Tests Critical Support at $0.0162 Amid Bearish Channel

Author:

Global Cryptocurrency

Published:

2025-11-03 20:45:02

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BTCCSquare news:

Pudgy Penguins' PENGU token faces mounting pressure as it breaches previous support levels, now hovering NEAR a decisive $0.0162 floor. The 48% retracement from local highs shows sellers dominating the order books, with the descending channel pattern suggesting further downside toward $0.0130-$0.0140.

Technical analysts note weakening momentum as PENGU undercuts its prior capitulation low near $0.017. The token's inability to attract buyers at higher levels confirms bearish control, though some traders anticipate potential exhaustion at current levels. Horizontal range-bound action around $0.0162 could determine whether this becomes a consolidation zone or another breakdown point.

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