PENGU is back on traders’ radar after dipping to a familiar level that has triggered rallies before. According to crypto analyst Ali Martinez, every time PENGU price has touched its 10-day simple moving average (SMA), it’s bounced, and sometimes explosively.
In a post shared on X(Formerly Twitter), Ali pointed out, “Every touch of the 10-day SMA has acted as a launchpad for $PENGU. With this level now at $0.035, it could once again be the perfect buy-the-dip opportunity.” It’s a level that’s been tested multiple times, and each time, price moved sharply higher.
What you'll learn 👉
PENGU Price Setup Since June
Back in mid-June, PENGU price was trending down. It was putting in lower lows and showed little momentum. That changed toward the end of the month. Around June 26, price reclaimed the 10-day SMA, and that kicked off a powerful rally.
From there, PENGU surged from around $0.012 to $0.046 by mid-July. That’s close to a 280% gain in just a few weeks. But after reaching that high, the token started consolidating. Price action has been flatter since, with small candles and a bit of hesitation near the top.
Over the past few days, PENGU pulled back again, right into the same 10-day SMA that helped launch it before. The current price hovers now at $0.0386, and there are signs of buying interest returning.
Why Traders Are Watching the $0.035 PENGU Price Level
Ali’s analysis points out that this level isn’t new. PENGU price bounced here in late June, again on July 9, and then once more around July 21. All three times, the 10-day SMA acted like a springboard.
Now that it’s testing that same support again, traders are looking for a repeat. If it holds and bounces again, the next targets are likely to be in the $0.043–$0.046 range. A strong breakout above that area may even go towards extension levels around $0.075 or $0.097, if the rally is able to gain momentum.
What Happens If Support Breaks?
Support between $0.035 and $0.0317 is key for the current structure. If PENGU price can’t hold here, it may slide lower toward $0.023, another major Fibonacci level from the previous swing.
Another factor to watch is volume. A bounce from this level without strong volume might not stick. But if buyers step in again like they did in June, the setup could play out similarly, with a strong upside move from this familiar zone.
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