PENGU surges as bearish pressure eases | Credit: Hameem Sarwar
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Key Takeaways
PENGU broke out of a falling wedge, signaling sellers are losing control and bulls regaining strength.
The green Supertrend line sits below price action, reinforcing bullish bias with resistance at $0.041.
A breakout from a descending triangle and a rising trend shows rising inflows amid a potential Fed rate cut.
After experiencing a tough August, Pudgy Penguins (PENGU) is turning things around this September. Over the past seven days, PENGU’s price has increased by 20%.
As a result of the move, the cryptocurrency’s value has jumped to $0.035, the highest level it has reached since Aug. 24.
But as it stands, it does not seem ready to give up those gains. In this analysis, CCN explains why and how PENGU’s price might perform as 2025 approaches its end.
Falling wedges typically form when an asset experiences a series of lower highs and lower lows, but with the downward slope narrowing over time.
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This shows that sellers are losing momentum, while buyers quietly build strength. Once the price breaks above the upper trendline, it marks the start of a new upward phase.
For PENGU, this breakout suggests that bearish pressure has eased and bulls are beginning to regain control.
If confirmed by rising volume and supporting indicators, the move could pave the way for a stronger rally, potentially targeting key resistance levels higher up the chart.
To support this, the green line of the Supertrend has positioned below PENGU’s price. As long as the red line of the Supertrend does not show up, the cryptocurrency’s value is likely to test the resistance at $0.041.
PENGU’s technical setup on the daily chart mirrors the bullish signal seen on the 4-hour timeframe.
This time, the token has broken above the upper trendline of a descending triangle — a move that signals a potential trend reversal or the start of a new uptrend.
Supporting this breakout, the Chaikin Money Flow (CMF) has risen to 0.06, indicating that capital inflows outweigh outflows.
Positive CMF values reflect increased buying pressure, suggesting traders are backing the move with liquidity.
Together, the breakout and improved money flow highlight a shift in market sentiment from bearish to bullish. This strengthens the case for PENGU’s price to extend its rally in the sessions ahead.
If current momentum holds, PENGU could challenge the $0.047 resistance. A successful breakout and validation above this level may clear the path for a rally toward $0.070.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
