Key Takeaways
- PENGU rallied 12.8% with a 33% volume spike, signaling renewed interest.
- Key resistance sits at $0.017–$0.023.
- Short-term charts show improving bullish momentum.
- A confirmed recovery requires volume strength and structural breakouts.
PENGU Eyes Recovery: Can a 13% Rally Finally Break Its Two-Week Slump?
PENGU has re-entered market conversations after a strong 12.8% daily rally paired with a 33% surge in trading volume. For a memecoin that has dropped over 28% since October 27, the sudden spike has sparked a pivotal question: is this the start of a meaningful recovery, or just another short-lived bounce? With momentum indicators sending mixed signals, traders are watching the charts closely for confirmation.
Price Action Signals a Fight for Trend Reversal
PENGU’s price structure has remained bearish for nearly two weeks, breaking below the key 78.6% Fibonacci level at $0.016. This area now acts as a stubborn barrier, reinforced by lingering imbalance zones that tighten resistance.
Despite the recent surge, higher-timeframe indicators remain cautious. The OBV continues its month-long downtrend, hinting that long-term demand has not yet fully returned. Meanwhile, the MACD’s tightly aligned lines show weakening momentum—even after yesterday’s rally.
For bulls to regain control, PENGU must reclaim the $0.017–$0.023 range and convert it into support.
Also Read: PENGU Price Jumps 11% — Is a Breakout Toward $0.015 Coming Soon?
Short-Term Momentum Improves as Buyers Test Key Levels
Short-term charts offer a more optimistic outlook. On the 1-hour timeframe, bullish internal structures are forming, and PENGU is actively retesting local highs around $0.0162. OBV has risen since November 4, confirming heavier buy-side participation, while the MACD shows expanding bullish momentum.
These factors signal a window of opportunity for short-term traders—especially if PENGU holds above $0.016 or retests it with strength. Breaks above $0.017 and $0.018 could unlock a stronger push toward mid-range targets.
What Traders Should Watch Next
For PENGU to exit its two-week slump, three elements must align:
- Sustained closes above $0.017–$0.018
- Increasing volume to support a trend reversal
- Strength on higher timeframes confirming a break in bearish structure
Failure to break these levels may prolong consolidation and keep the broader outlook cautious.
A Promising Start, But No Confirmed Reversal Yet
PENGU’s 12.8% rally and rising volume mark an encouraging shift in sentiment, but the token still needs stronger structural confirmation. Short-term momentum favors bullish setups, yet higher-timeframe resistance remains firm. Until PENGU reclaims the mid-range levels, traders should balance opportunity with caution.
