Pudgy Penguins (PENGU) Price Eyes $0.041 as Wedge Breakout Gains Momentum

Pudgy Penguins' PENGU token shows signs of bullish reversal after breaking out from a falling wedge formation. The 4-hour chart reveals a decisive reclaim above the 50-period SMA, with trading volume confirming renewed buyer interest. Market participants now target the $0.041 resistance level, a threshold that previously capped upward movements.

Technical analysts highlight the textbook falling wedge pattern—a classic reversal signal—as PENGU tests historical support. The tightening price coil suggests accumulating pressure for a directional move, with $0.047 emerging as the next significant hurdle should bullish momentum sustain. Recent price action demonstrates consistent respect for key accumulation zones, indicating stealthy accumulation by strategic buyers.