Pudgy Penguins SuperTrend Turns Bullish as $PENGU Eyes $0.018 Breakout

robot
Abstract generation in progress

Daily SuperTrend indicator flipped bullish for $PENGU, marking a trend reversal and confirming sustained buyer strength above the key 0.618 Fibonacci level.

Price is consolidating just below $0.018 resistance, reflecting supply absorption and positioning the market for a potential high-volume breakout toward higher targets.

A decisive break above $0.0180 with strong trading volume could propel $PENGU toward the 0.025 Fibonacci level, offering measured entry and upside.

Pudgy Penguins ($PENGU) is showing renewed technical strength as key indicators support a potential breakout. The price has climbed 14.13% in the last 24 hours, reaching $0.01621.

SuperTrend Flips Bullish After Downtrend

According to a crypto analyst Ali_charts, the SuperTrend indicator on the daily chart has turned bullish for $PENGU. This marks a critical shift after an extended period of downward momentum. The indicator’s flip aligns with a clear breakout above the 0.618 Fibonacci retracement level. That level, now acting as support, is positioned near $0.0113.

The daily candle structure supports this trend reversal. Higher lows and sustained closes above previous resistance levels suggest consistent buyer activity. The SuperTrend support line is rising, offering dynamic short-term support. This formation indicates that the price action is following a constructive pattern and that the bullish momentum is being maintained.

Resistance at $0.0180 Gains Attention

The $0.0180 level, derived from the 0.786 Fibonacci retracement, is emerging as a key resistance. $PENGU is currently consolidating just below this zone. The consolidation reflects a pause in price movement as market participants absorb existing supply.

This phase is crucial because a breakout above $0.0180, especially with strong trading volume, could shift the momentum further. Traders are closely watching this level as a confirmed move past it may open the way toward the next Fibonacci target.

Fibonacci Structure Suggests $0.0250 as Potential Target

If $PENGU breaks past the $0.0180 resistance, the next Fibonacci level at $0.0250 may serve as a technical target. In the tweet, Ali_charts pointed out that this level could act as a price magnet if bullish momentum continues.

The alignment of rising SuperTrend support, firm candle structure, and Fibonacci levels presents a structured setup. The market appears to be positioning for a continuation, and the technical indicators offer a well-defined trading setup with measured risk.

The post Pudgy Penguins SuperTrend Turns Bullish as $PENGU Eyes $0.018 Breakout appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.

The content is for reference only, not a solicitation or offer. No investment, tax, or legal advice provided. See Disclaimer for more risks disclosure.
  • Reward
  • 1
  • Share
Comment
0/400
Mars-jovip
· 05-14 20:18
Take off with power 🚀
Reply0