$PENGU Breaks Resistance as Fibonacci Targets Point to $0.044 Rally

$PENGU confirmed an ascending triangle breakout with strong volume, signaling a bullish shift above $0.0148 resistance.

Fibonacci extensions point to $0.026 and $0.044 as next key price targets if momentum continues in the coming sessions.

A potential retest of the $0.0148 breakout level may offer support confirmation before continuation toward projected upside targets.

Pudgy Penguins ($PENGU) has broken a key horizontal resistance near $0.0148, setting the stage for a potential extended rally.

Breakout Confirms Ascending Triangle Pattern

According to analyst @ali_charts, $PENGU broke decisively above its resistance zone, validating a bullish ascending triangle structure that has been forming since March. The pattern is marked by higher lows pushing against a flat resistance line, a typical setup for upside continuation.

The breakout move has triggered renewed interest, with buyers showing increased conviction, as reflected in the volume surge accompanying the breakout candle. With current price hovering at $0.01599, this upward momentum aligns with Fibonacci targets, particularly the 1.786 extension at $0.044.

Fibonacci Extension Targets In Play

Technical projections based on the Fibonacci extension tool suggest that $PENGU could next target $0.026, which aligns with the 1.414 level. If bullish momentum persists and the trendline remains respected, the market could rally further toward $0.044.

At the time of writing, $PENGU has posted a 2.61% gain in the last 24 hours and a 15.10% increase over the past week. This performance reflects growing confidence following the structural breakout, which could attract more participation in the near term.

Retest of Breakout Zone Remains Likely

A short-term retest of the former resistance at $0.0148 is likely, as markets often revisit breakout zones before continuation. Such a move would serve as a validation of the breakout and offer buyers another entry point.

If support holds at this level, upward momentum could accelerate. The bullish structure remains intact as long as $PENGU stays above its ascending trendline support. Market participants are now watching price behavior closely near this zone to assess strength.

With volume and technical alignment supporting the breakout, market sentiment appears constructive for further gains. The structure favors bulls while maintaining a need for confirmation through support retention and continued price progression.

The post $PENGU Breaks Resistance as Fibonacci Targets Point to $0.044 Rally appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.